Structural transformation and the development of employment in the German financial sector

Abstract

"Over the past few years, the labour market in the German financial sector was characterised by a decline in both employment and vocational training figures. There is also a tendency towards higher qualification of occupations and professions. The ongoing structural change is characterised on the one hand by difficult economic conditions (e. g. decline in interest margin) and current challenges such as the reduction in the number of branches. Many business areas and business processes in the financial sector are in an ongoing process of digitisation and are thus leading to changes in job requirements. The potential employment effects of digitisation reflect the high proportion of employees in the financial sector with a high potential for substitutability. The forthcoming amendment of vocational training regulations for bank clerks is a reaction to the upheavals in this sector." (Author's abstract, IAB-Doku) ((en))

Cite article

Burkert, C. (2019): Strukturwandel und Beschäftigungsentwicklung in der Finanzbranche in Deutschland. (IAB-Stellungnahme 05/2019), Nürnberg, 23 p.