Agreed, it's not great, as when a whole sector is affected it's hard to find another job, as openings are limited, and the number of seekers goes through the roof.
1 in 3 jobs in Sydney CBD is in finance as well. The often live fairly close to the city so this may affect the property market in these areas this year.
The scary part is the debt re-finance required by the big 4 this year. This is a topic that I think no-one really wants to talk about in the media or the banks, but "may" be the elephant in the room.
Banks hoped that by selling shorter term bonds post GFC, that all would be hunky dory by 2012 2013 in the international money market. It's not hunky dory, it's up the creek without a boat.
