Department of Labor Logo United States Department of Labor
Dot gov

The .gov means it's official.
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you're on a federal government site.

Https

The site is secure.
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.

Credit Intermediation and Related Activities: NAICS 522

About the Credit Intermediation and Related Activities subsector

The credit intermediation and related activities subsector is part of the finance and insurance sector.

Industries in the Credit Intermediation and Related Activities subsector group establishments that (1) lend funds raised from depositors; (2) lend funds raised from credit market borrowing; or (3) facilitate the lending of funds or issuance of credit by engaging in such activities as mortgage and loan brokerage, clearinghouse and reserve services, and check cashing services.

North American Industry Classification System

The credit intermediation and related activities subsector consists of these industry groups:

  • Depository Credit Intermediation: NAICS 5221
  • Nondepository Credit Intermediation: NAICS 5222
  • Activities Related to Credit Intermediation: NAICS 5223

Workforce Statistics

This section provides information relating to employment in credit intermediation and related activities. These data are obtained from employer or establishment surveys. The following tables present an overview of the industry including the number of jobs, data for occupations common to the industry, and projections of occupational employment change.

Employment

Data series Back
data
Nov.
2023
Dec.
2023
Jan.
2024
Feb.
2024

Employment (in thousands)

Employment, all employees (seasonally adjusted)

2,607.2 2,603.8 (p)2,597.9 (p)2,589.0

Employment, production and nonsupervisory employees

1,930.0 1,932.7 (p)1,921.0  

Footnotes
(p) Preliminary

(Source: Current Employment Statistics)

Employment by Occupation

Data series Employment,
2022

Customer service representatives

178,480

Financial managers

124,120

Loan interviewers and clerks

196,330

Loan officers

287,440

Tellers

341,680

(Source: Occupational Employment and Wage Statistics)

Projections

For projected (future) employment estimates, see the National Employment Matrix, which includes employment estimates by industry and occupation for credit intermediation and related activities.

(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 are shown. In addition, recent hourly and annual earnings are shown for occupations commonly found in credit intermediation and related activities. This section also contains information on the average cost of benefits paid by employers, as well as recent rates of change in wages and total compensation.

Earnings and Hours of All Employees

Data series Back
data
Oct.
2023
Nov.
2023
Dec.
2023
Jan.
2024

Average hourly earnings

$45.03 $44.76 $45.02 (p)$45.40

Average weekly hours

38.6 37.9 37.9 (p)37.8

Footnotes
(p) Preliminary

(Source: Current Employment Statistics)

Earnings and Hours of Production and Nonsupervisory Employees

Data series Back
data
Oct.
2023
Nov.
2023
Dec.
2023
Jan.
2024

Average hourly earnings

$30.59 $30.77 $30.71 (p)$30.75

Average weekly hours

38.3 37.6 37.4 (p)37.6

Footnotes
(p) Preliminary

(Source: Current Employment Statistics)

Earnings by Occupation

Data series Wages, 2022
Hourly Annual
Median Mean Median Mean

Customer service representatives

19.56 20.79 40,680 43,230

Financial managers

58.71 68.54 122,110 142,550

Loan interviewers and clerks

22.29 22.31 46,370 46,410

Loan officers

30.96 39.93 64,390 83,050

Tellers

17.48 17.68 36,360 36,770

(Source: Occupational Employment and Wage Statistics)

Employee Benefits

This section presents data on the incidence (the percentage of workers with access to and participation in employer-provided benefit plans) and provisions of selected employee benefits from the National Compensation Survey. More Benefits estimates are also accessible from the Benefits database, the archived NCS publications page, and the complete Employee Benefits Excel dataset (XLSX).

Data series Access Participation
Back
data
2023 Back
data
2023

Private industry

Retirement benefit plans

95 87

Defined benefit plans

48 22

Defined contribution plans

95 86

(Source: Employee Benefits in the United States)

Data series After 1 year of service After 20 years of service
Back
data
2023 Back
data
2023

Mean number of vacation days for private industry workers without consolidated leave plans

13 20

(Source: Employee Benefits in the United States)

Data series Back
data
2023

Percent of private industry workers with access to employer-sponsored benefits

Health care

97

Paid vacation

98

Paid sick leave

98

(Source: Employee Benefits in the United States)

Employer Compensation Costs

Data series Back
data
1st quarter
2023
2nd quarter
2023
3rd quarter
2023
4th quarter
2023

Private industry

12-month percent change

Total compensation

5.3% 2.7% 4.4% 4.2%

Wages and salaries

4.4% 1.9% 4.5% 4.4%

3-month percent change

Total compensation

1.4% 1.3% 1.3% 0.1%

Wages and salaries

0.8% 1.7% 1.6% 0.2%

(Source: Compensation Cost Trends)

Data series Private industry
Compensation component
($ per hour worked)
Percent of total compensation
Back
data
4th quarter 2023 Back
data
4th quarter 2023

Total compensation

60.36 100.0

Wages and salaries

39.50 65.4

Total benefits

20.86 34.6

Insurance

5.38 8.9

Retirement

2.35 3.9

Paid leave

5.90 9.8

(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 credit intermediation and related 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 2019 2020 2021 2022

Fatalities

Number of fatalities

9 9 9 6

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

Data series 2022

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

Total recordable cases

0.4

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

0.2

Cases involving days away from work

0.1

Cases involving days of job transfer or restriction

(1)0.0

Footnotes
(1) Rate rounded to zero

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 in credit intermediation and related activities.

Establishments

Data series Back
data
4th quarter
2022
1st quarter
2023
2nd quarter
2023
3rd quarter
2023

Number of establishments

Private industry

195,498 (p)195,110 (p)196,170 (p)196,907

Local government

46 (p)47 (p)47 (p)47

State government

23 (p)22 (p)23 (p)33

Federal government

638 (p)640 (p)648 (p)648

Footnotes
(p) Preliminary

(Source: Quarterly Census of Employment and Wages)

 

Data extracted on: March 22, 2024