Financial Activities

About the Financial Activities supersector

The financial activities supersector is part of the service-providing industries supersector group.

The financial activities supersector consists of these sectors:

Workforce Statistics

This section provides information relating to employment and unemployment in financial activities. While most data are obtained from employer or establishment surveys, information on industry unemployment comes from a national survey of households. The following tables present an overview of the industry including the number of jobs, the unemployment rate of those previously employed in the industry, job openings and labor turnover, union membership and representation, gross job gains and losses, and projections of occupational employment change.

Employment, Unemployment, and Openings, Hires, and Separations

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data
Feb.
2016
Mar.
2016
Apr.
2016
May
2016

Employment (in thousands)

 

Employment, all employees (seasonally adjusted)

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8,215 8,229 (P) 8,247 (P) 8,255

Employment, production and nonsupervisory employees (seasonally adjusted)

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6,360 6,375 (P) 6,387 (P) 6,396

Unemployment

 

Unemployment rate

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3.6% 3.0% 2.7% 1.8%

Job openings, hires, and separations (in thousands)

 

Job openings

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318 315 (P) 412  

Hires

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190 199 (P) 220  

Separations

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171 182 (P) 197  

Footnotes
(P) Preliminary

(Source: Current Employment Statistics, Current Population Survey, Job Openings and Labor Turnover Survey)

Union Membership and Representation

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data
2012 2013 2014 2015

Union membership and representation

 

Members of unions (percent of wage and salary workers)

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1.9% 2.0% 2.0% 2.4%

Represented by unions (percent of wage and salary workers)

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2.5% 2.6% 2.4% 2.8%

(Source: Current Population Survey)

Dynamic Changes in Employment

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data
4th quarter
2014
1st quarter
2015
2nd quarter
2015
3rd quarter
2015

Dynamic changes in employment (in thousands)

 

Gross job gains

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384 341 385 367

Gross job losses

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344 330 332 345

(Source: Business Employment Dynamics)

Projections

For projected (future) employment estimates in financial activities, see the Employment and projected employment by major industry sector table.

(Source: Office of Occupational Statistics and Employment Projections)

Earnings and Hours

This section presents data on employee earnings and weekly hours. The latest industry averages of hourly earnings and weekly hours, as well as weekly earnings by union membership status, are shown. This section also contains information on recent rates of change in wages and total compensation.

Earnings and Hours of All Employees

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data
Feb.
2016
Mar.
2016
Apr.
2016
May
2016

Average hourly earnings

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$32.02 $32.14 (P) $32.18 (P) $32.18

Average weekly hours

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37.6 37.6 (P) 37.6 (P) 37.5

Footnotes
(P) Preliminary

(Source: Current Employment Statistics)

Earnings and Hours of Production and Nonsupervisory Employees

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data
Feb.
2016
Mar.
2016
Apr.
2016
May
2016

Average hourly earnings

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$25.92 $26.01 (P) $26.18 (P) $26.13

Average weekly hours

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37.1 37.0 (P) 37.1 (P) 36.9

Footnotes
(P) Preliminary

(Source: Current Employment Statistics)

Union Membership and Representation

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data
Median weekly earnings
2012 2013 2014 2015

Union membership and representation

 

Full-time workers

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$889 $905 $941 $964

Members of unions

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$795 $875 $879 $915

Represented by unions

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$779 $930 $884 $924

Nonunion

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$893 $905 $942 $964

(Source: Current Population Survey)

Employer Compensation Costs

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data
2nd quarter
2015
3rd quarter
2015
4th quarter
2015
1st quarter
2016

12-month percent change

 

Total compensation

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2.3% 2.1% 2.3% 1.6%

Wages and salaries

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2.4% 2.0% 2.3% 1.8%

(Source: Compensation Cost Trends)

Work-related Fatalities, Injuries, and Illnesses

This section presents data for the industry on the number of workplace fatalities and the rates of workplace injuries and illnesses per 100 full-time workers in financial activities. An injury or illness is considered to be work-related if an event or exposure in the work environment either caused or contributed to the resulting condition or significantly aggravated a pre-existing condition.

Data series 2011 2012 2013 2014

Fatalities

 

Number of fatalities

99 87 87 117

Blank cells indicate no data reported or data that do not meet publication criteria.

Data series 2014

Rate of injury and illness cases per 100 full-time workers

 

Total recordable cases

1.2

Cases involving days away from work, job restriction, or transfer

0.5

Cases involving days away from work

0.4

Cases involving days of job transfer or restriction

0.2

Blank cells indicate no data reported or data that do not meet publication criteria.

(Source: Injuries, Illnesses, and Fatalities)

Workplace Trends

This section presents data on the number of establishments and the number of establishments experiencing job gains or job losses in financial activities.

Establishments

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1st quarter
2015
2nd quarter
2015
3rd quarter
2015
4th quarter
2015

Number of establishments

 

Private industry

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(P) 837,413 (P) 841,618 (P) 847,466 (P) 854,495

Local government

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(P) 1,857 (P) 1,852 (P) 1,851 (P) 1,846

State government

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(P) 119 (P) 120 (P) 120 (P) 120

Federal government

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(P) 799 (P) 799 (P) 805 (P) 805

Establishments with changes in employment (in thousands)

 

With job gains (seasonally adjusted)

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144 147 146  

With job losses (seasonally adjusted)

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149 144 145  

Footnotes
(P) Preliminary

(Source: Business Employment Dynamics, Quarterly Census of Employment and Wages)

 

Data extracted on: June 29, 2016