Insurance, Money Market and Statistical Clerks
Overview
Snapshot
Summary
Insurance, Money Market and Statistical Clerks prepare and check documentation associated with insurance, maintain records of securities transactions and registrations, offer odds and accept bets, and compile data and undertake statistical and actuarial computations.
Tasks
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obtaining information on the form of competitors by research, attending racing trials and liaising with contacts
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offering and varying odds on competitors after considering the type of event, handicaps, weather conditions and odds offered by other Bookmakers
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processing insurance applications, adjustments to insurance cover, standard endorsements and insurance claims
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monitoring balances of accounts and summarising reinsurance to determine outstanding risk
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surveying potential risk exposure
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despatching notices of premiums due and forms concerning conservation and transfer of insurance
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reviewing, checking, verifying and issuing transaction documentation for securities
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claiming accruing dividends and processing dividend payments
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compiling statistics from financial records, survey returns and other data sources, and verifying the authenticity of the material
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operating computers to input, manipulate and output information
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compiling results of calculations into tables, graphs and charts to be used in analysis
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may work in a call centre
Characteristics
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University
-
Vocational Education and Training (VET)
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Informal or on-the-job
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Administrative
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Enterprising
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Sedentary
Outlook
JSA produces employment projections to show where likely future job opportunities may be. The latest data are for the five years from November 2021 to November 2026. Over this period, the number of workers:
- is expected to grow moderately
- is likely to reach 53,000 by 2026.
Source: Jobs and Skills Australia Employment Projections to 2026.
Notes: The number employed includes people who work in this occupation as their main job. People who work in more than one job are counted against the occupation they work the most hours in.
Employment projections figures are rounded to the nearest 100. Calculations based on these rounded figures may result in differences to the numbers that are displayed on this page. Employment projections data (including occupations) can be downloaded from the Employment Projections page.
Number of Workers
Year | Employment |
---|---|
2011 | 35,500 |
2012 | 33,600 |
2013 | 29,400 |
2014 | 27,500 |
2015 | 29,800 |
2016 | 32,300 |
2017 | 27,300 |
2018 | 25,300 |
2019 | 35,700 |
2020 | 31,300 |
2021 | 50,600 |
2026 | 53,000 |
Source: ABS Labour Force Survey, ABS seasonally adjusted data to November 2021 and Jobs and Skills Australia Employment Projections to 2026.
Earnings and hours
Working arrangements
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Around 77% of people employed as Insurance, Money Market and Statistical Clerks work full-time hours, in all their jobs combined. This is 11 percentage points above the all jobs average (66%).
Full-time workers work an average of 40 hours per week in their main job. This is 4 hours less than the all jobs average (44 hours per week).
Median full-time earnings are $1,332 per week, this is much lower than the all jobs median ($1,593):
- 3 in 4 workers earn more than $1,115
- 1 in 4 earn more than $1,588
Median hourly earnings are $35, this is lower than the all jobs median ($41 per hour).
Sources: Full-time share and full-time hours: ABS, 2016 Census, customised report. Compared to the all jobs average. Full-time median earnings and median hourly earnings: ABS, Survey of Employee Earnings and Hours, May 2021. Compared to all jobs median.
Weekly Earnings (Before Tax)
Earnings | Insurance, Money Market and Statistical Clerks | All Jobs Average |
---|---|---|
Full-Time Earnings | 1,332 | 1,593 |
Total Earnings | 0 | 0 |
Source: Based on ABS Survey of Employee Earnings and Hours, May 2021, Customised Report. Median weekly total cash earnings for full-time non-managerial employees paid at the adult rate. Earnings are before tax and include amounts salary sacrificed. Earnings can vary greatly depending on the skills and experience of the worker and the demands of the role. These figures should be used as a guide only, not to determine a wage rate.
Industries
Main industries
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Most Insurance, Money Market and Statistical Clerks work in the Financial and insurance services industry. They are also employed in industries like:
Source: ABS Labour Force Survey, annual average 2021.
Regions
Employment across Australia
NSW
VIC
QLD
SA
WA
TAS
NT
ACT
Employment by State and Territory (% Share)
State | Insurance, Money Market and Statistical Clerks | All Jobs Average |
---|---|---|
NSW | 37.8 | 31.6 |
VIC | 26.8 | 25.6 |
QLD | 16.5 | 20.0 |
SA | 7.3 | 7.0 |
WA | 8.1 | 10.8 |
TAS | 1.7 | 2.0 |
NT | 0.5 | 1.0 |
ACT | 1.2 | 1.9 |
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Around 76% of Insurance, Money Market and Statistical Clerks live in capital cities, compared with the all jobs average of 62%.
New South Wales has a large share of employment relative to its population size.
Source: Based on ABS Census 2016, Customised Report. Share of workers across Australian states, territories and regions, in this job compared to the all jobs average.
Worker profile
Age and gender
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The median age of Insurance, Money Market and Statistical Clerks is 37 years. This is similar to the all jobs average of 40 years.
A large share of workers are aged 25 to 34 years.
Females make up 70% of the workforce. This is 22 percentage points above the all jobs average of 48%.
Source: Based on ABS Census 2016, Customised Report. Age profile and gender share compared to the all jobs average.
Age Profile (% Share)
Age Bracket | Insurance, Money Market and Statistical Clerks | All Jobs Average |
---|---|---|
15-19 | 0.9 | 5.0 |
20-24 | 8.0 | 9.3 |
25-34 | 33.5 | 22.9 |
35-44 | 25.6 | 22.0 |
45-54 | 18.9 | 21.6 |
55-59 | 6.8 | 9.0 |
60-64 | 4.1 | 6.0 |
65 and Over | 2.2 | 4.2 |
Median Age | 37 | 40 |
Source: Based on ABS Census 2016, Customised Report. Age profile of workers in this job compared to the all jobs average.
Employment Pathways
Education, training and experience
Formal qualifications are not essential to work as an Insurance, Money Market or Statistical Clerk. Although some workers have a Vocational Education and Training (VET) qualification or university degree in business and management, insurance and actuarial studies, banking and finance or accounting.
Visit
- Course Seeker to search and compare higher education courses.
- ComparED to compare undergraduate and postgraduate student experiences and outcomes.
- My Skills to compare Vocational Education and Training (VET) courses, providers and student outcomes.
- AAPathways website to explore Financial Services VET training pathways.
Highest Level of Education (% Share)
Type of Qualification | Insurance, Money Market and Statistical Clerks | All Jobs Average |
---|---|---|
Post Graduate/Graduate Diploma or Graduate Certificate | 7.0 | 10.1 |
Bachelor degree | 23.0 | 21.8 |
Advanced Diploma/Diploma | 15.6 | 11.6 |
Certificate III/IV | 14.9 | 21.1 |
Year 12 | 27.2 | 18.1 |
Year 11 | 4.7 | 4.8 |
Year 10 and below | 7.6 | 12.5 |
Source: ABS Census 2016, Customised Report. Highest qualification completed by workers in this job (in any field of study). Qualifications needed by new workers might be different from the qualifications of workers already in the job.
Skills and Knowledge
Employers look for Insurance, Money Market and Statistical Clerks who have a high attention to detail, provide good customer service and are reliable.
Skills
Skills can be improved through training or experience.
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55%
Active listeningListening to others, not interrupting, and asking good questions.
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50%
Reading comprehensionReading work related information.
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50%
SpeakingTalking to others.
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50%
Critical thinkingThinking about the pros and cons of different ways to solve a problem.
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46%
Judgment and decision makingFiguring out the pros and cons of different options and choosing the best one.
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45%
Serving othersLooking for ways to help people.
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43%
MathematicsUsing maths to solve problems.
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43%
WritingWriting things for co-workers or customers.
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41%
Active learningBeing able to use what you have learnt to solve problems now and again in the future.
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39%
Complex problem solvingNoticing a problem and figuring out the best way to solve it.
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39%
Coordination with othersBeing adaptable and coordinating work with other people.
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39%
MonitoringKeeping track of how well work is progressing so you can make changes or improvements.
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37%
Time managementManaging your own and other peoples' time to get work done.
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36%
Social perceptivenessUnderstanding why people react the way they do.
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34%
PersuasionTalking people into changing their minds or their behaviour.
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32%
NegotiationBringing people together and trying to sort out their differences.
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30%
Management of financial resourcesFiguring out how money is needed to do something, and keeping track of the money that's being spent.
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30%
Systems analysisFiguring out how a system should work and how changes in conditions, operations, and the environment will affect it.
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29%
Management of personnel resourcesMotivating, developing, and directing people as they work, and choosing the best people for the job.
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27%
InstructingTeaching people how to do something.
Knowledge
These are important topics, subjects or knowledge areas.
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79%
ClericalWord processing, managing files and records, stenography and transcription, designing forms, and other office work.
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78%
Customer and personal serviceUnderstanding customer needs, providing good quality service, and measuring customer satisfaction.
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62%
English languageEnglish language including the meaning and spelling of words, rules of composition, and grammar.
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61%
Computers and electronicsCircuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
-
55%
Administration and managementBusiness principles involved in strategic planning, leadership, and coordinating people and resources.
-
54%
Sales and marketingShowing, promoting, and selling including marketing strategy, product demonstration, sales techniques, and sales control systems.
-
47%
MathematicsArithmetic, algebra, geometry, calculus, or statistics.
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46%
Education and trainingCurriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
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46%
Communications and mediaMedia production, communication, and dissemination. Includes written, spoken, and visual media.
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31%
Economics and accountingEconomics and accounting, the financial markets, banking and checking and reporting of financial data.
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30%
TelecommunicationsTransmission, broadcasting, switching, control, and operation of telecommunications systems.
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27%
Law and governmentHow our laws and courts work. Government rules and regulations, and the political system.
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26%
PsychologyHuman behaviour; differences in ability, personality, and interests; learning and motivation; research methods; assessing and treating disorders.
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23%
Production and processingRaw materials, production processes, quality control, costs, and ways of making and distributing goods.
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18%
Personnel and human resourcesRecruiting and training people, managing pay and other entitlements (like sick leave), and negotiating pay and conditions.
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16%
Public safety and securityUse of equipment, rules and ideas to protect people, data, property, and institutions.
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13%
GeographyDescribing land, sea, and air, including their physical characteristics, locations, how they work together, and the location of plant, animal, and human life.
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13%
TransportationMoving people or goods by air, rail, sea, or road.
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13%
Sociology and anthropologyGroup behaviour and dynamics, societal trends and influences, human migrations, ethnicity, cultures and their history and origins.
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10%
Philosophy and theologyPhilosophical systems and religions, including their basic principles, values, ethics, ways of thinking, customs, practices, and impact on society.
Abilities
Workers use these physical and mental abilities..
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59%
Near visionSee details that are up-close (within a few feet).
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57%
Oral comprehensionListen to and understand what people say.
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55%
Oral expressionCommunicate by speaking.
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54%
Written comprehensionRead and understand written information.
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52%
Speech recognitionIdentify and understand the speech of another person.
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48%
Working with numbersAdd, subtract, multiply, or divide.
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48%
Written expressionWrite in a way that people can understand.
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46%
Speech claritySpeak clearly so others can understand you.
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45%
Deductive reasoningUse general rules to find answers or solve problems logically.
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43%
CategorisingCome up with different ways of grouping things.
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43%
MathematicsChoose the right maths method or formula to solve a problem.
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41%
Inductive reasoningUse lots of detailed information to come up with answers or make general rules.
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41%
Problem spottingNotice when something is wrong or is likely to go wrong, even if you can't solve the problem.
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41%
Sorting or orderingOrder or arrange things in a pattern or sequence (e.g., numbers, letters, words, pictures, mathematical operations).
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39%
Perceptual speedUse your eyes to quickly compare groups of letters, numbers, pictures, or other things.
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36%
Selective attentionPay attention to something without being distracted.
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36%
BrainstormingCome up with a number of ideas about a topic, even if the ideas aren't very good.
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36%
Flexibility of closureSee a pattern (a figure, object, word, or sound) hidden in other distracting material.
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34%
Far visionSee details that are far away.
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32%
Finger dexterityPut together small parts with your fingers.
Activities
These are kinds of activities workers regularly do in this job.
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67%
Planning and prioritising workDeciding on goals and putting together a detailed plan to get the work done.
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65%
Communicating with the publicGiving information to the public, business or government by telephone, in writing, or in person.
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62%
Keeping your knowledge up-to-dateKeeping up-to-date with technology and new ideas.
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61%
Building good relationshipsBuilding good working relationships and keeping them over time.
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60%
Researching and investigatingLooking for, getting and understanding different kinds of information.
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59%
Communicating within a teamGiving information to co-workers by telephone, in writing, or in person.
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57%
Collecting and organising informationCompiling, coding, categorizing, calculating, tabulating, auditing, or checking information or data.
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55%
Negotiating and resolving conflictsHandling complaints and disagreements, and negotiating with people.
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53%
Looking for changes over timeComparing objects, actions, or events. Looking for differences between them or changes over time.
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53%
Monitoring people, processes and thingsChecking objects, actions, or events, and keeping an eye out for problems.
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50%
Checking compliance with standardsDeciding whether events or processes comply with laws, regulations, or standards.
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50%
Making decisions and solving problemsUsing information to work out the best solution and solve problems.
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50%
Documenting or recording informationEntering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
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48%
Influencing peopleConvincing people to buy something or to change their minds or actions.
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47%
Making sense of information and ideasLooking at, working with, and understanding data or information.
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47%
Working with the publicGreeting or serving customers, clients or guests, and public speaking or performing.
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46%
Explaining things to peopleHelping people to understand and use information.
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46%
Working with computersUsing computers to program, write software, set up functions, enter data, or process information.
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44%
Managing payments and ordersMonitoring and controlling resources and the spending of money.
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42%
Providing office supportDoing day-to-day office work such as filing and processing paperwork.
Interests and demands
Learn about the daily activities, and physical and social demands faced by workers. Explore the values and work styles that workers rate as most important.
Interests
Interests are the style or type of work we prefer to do. All interest areas are shown below.
-
100%
AdministrativeFollowing set procedures and routines. Working with numbers and details more than with ideas, usually following rules.
-
62%
EnterprisingStarting up and carrying out projects. Leading people and making many decisions. Sometimes require risk taking and often deal with business.
-
33%
HelpingWorking with people. Helping or providing service to others.
-
24%
AnalyticalIdeas and thinking. Searching for facts and figuring out problems in your head.
-
14%
CreativeWorking with forms, designs and patterns. Often need self-expression and can be done without following rules.
-
14%
PracticalPractical, hands-on work. Often with plants and animals, or materials like wood, tools, and machinery.
Values
-
71%
SupportSupportive management that stands behind employees. Workers are treated fairly by their company, they are supported by management, and have supervisors who train them well.
-
62%
RelationshipsServe and work with others. Workers usually get along well with each other, do things to help other people, and are rarely pressured to do things that go against their sense of right and wrong.
-
52%
IndependenceWork alone and make decisions. Workers are able to try out their own ideas, make decisions on their own, and work with little or no supervision.
-
43%
AchievementResults oriented. Workers are able to use their strongest abilities, giving them a feeling of accomplishment.
-
40%
Working conditionsJob security and good working conditions. There is usually a steady flow of interesting work, and the pay and conditions are generally good.
-
33%
RecognitionAdvancement and the potential to lead. Workers are recognised for the work that they do, they may give directions and instructions to others, and they are looked up to in their company and their community.
Demands
-
100%
Indoors, heat controlledWork indoors with access to heating or cooling.
-
98%
Spend time sittingSpend time sitting at work.
-
97%
Contact with peopleHave contact with people by telephone, face-to-face, or any other way.
-
97%
Electronic mailUse electronic mail.
-
97%
TelephoneTalk on the telephone.
-
92%
Letters and memosWrite letters and memos.
-
92%
Unstructured workHave freedom to decide on tasks, priorities, and goals.
-
92%
TeamworkWork with people in a group or team.
-
86%
Contact with the publicWork with customers or the public.
-
83%
Being exact or accurateBe very exact or highly accurate.
-
81%
Repeating same tasksRepeat the same tasks or activities (e.g., key entry) over and over, without stopping.
-
80%
Face-to-face discussionsTalk with people face-to-face.
-
79%
Freedom to make decisionsHave freedom to make decision on your own.
-
78%
Time pressureWork to strict deadlines.
-
76%
Frequent decision makingFrequently make decisions that impact other people.
-
76%
Making repetitive motionsSpend time making repetitive motions.
-
74%
Impact of decisionsMake decisions that have a large impact on other people.
-
68%
Lead or coordinate a teamLead others to do work activities.
-
66%
Angry or unpleasant peopleDeal with unpleasant, angry, or rude people.
-
61%
Automation of tasksDo tasks that are mostly automated.
O*NET is a trademark of the U.S. Department of Labor, Employment and Training Administration.
The skills and importance ratings on this page are derived from the US Department of Labor O*NET Database Version 21.2, 43-9041.02 - Insurance Policy Processing Clerks.
Links and downloads
Research and reports
The Skills Priority List provides a current labour market rating and a future demand rating for nearly 800 occupations nationally. Current labour market ratings are available for occupations at a state and territory level.
Downloads
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Occupation profiles data are available for download.
The Employment Projections are available for download.