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.

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, mass layoffs, data for occupations common to the industry, and projections of occupational employment change.

Employment and Layoffs

Data series	Back data	Jan. 2013	Feb. 2013	Mar. 2013	Apr. 2013
Employment (in thousands)
Employment, all employees (seasonally adjusted)		2,601.8	2,603.9	(P) 2,603.8	(P) 2,612.4
Employment, production and nonsupervisory employees		1,921.9	1,920.1	(P) 1,921.2
Layoffs
Mass layoff events		8	10	13	15
Initial claimants for unemployment benefits		687	746	1,442	1,176
Footnotes (P) Preliminary

(Source: Current Employment Statistics, Mass Layoff Statistics)

Extended Mass Layoffs

Data series	Back data	2nd quarter 2012	3rd quarter 2012	4th quarter 2012	1st quarter 2013
Extended mass layoff events		21	20	(P) 18	(P) 9
Separations		5,490	4,873	(P) 3,217	(P) 1,577
Initial claimants		5,726	5,402	(P) 4,653	(P) 1,468
Footnotes (P) Preliminary

(Source: Mass Layoff Statistics)

Employment by Occupation

Data series	Employment, 2012
Customer service representatives	201,440
Financial managers	89,980
Loan interviewers and clerks	156,990
Loan officers	246,640
Tellers	529,990

(Source: Occupational Employment 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	Dec. 2012	Jan. 2013	Feb. 2013	Mar. 2013
Average hourly earnings		$27.22	$26.91	$27.17	(P) $26.65
Average weekly hours		38.9	37.5	37.6	(P) 37.5
Footnotes (P) Preliminary

(Source: Current Employment Statistics)

Earnings and Hours of Production and Nonsupervisory Employees

Data series	Back data	Dec. 2012	Jan. 2013	Feb. 2013	Mar. 2013
Average hourly earnings		$20.26	$20.03	$19.95	(P) $19.86
Average weekly hours		38.1	36.6	36.5	(P) 36.5
Footnotes (P) Preliminary

(Source: Current Employment Statistics)

Earnings by Occupation

Data series	Wages, 2012
	Hourly		Annual
	Median	Mean	Median	Mean
Customer service representatives	$14.96	$15.79	$31,110	$32,840
Financial managers	$44.21	$52.33	$91,950	$108,840
Loan interviewers and clerks	$16.80	$17.19	$34,950	$35,750
Loan officers	$28.16	$33.05	$58,560	$68,730
Tellers	$11.98	$12.39	$24,920	$25,770

(Source: Occupational Employment Statistics)

Employer Compensation Costs

Data series	Back data	2nd quarter 2012	3rd quarter 2012	4th quarter 2012	1st quarter 2013
12-month percent change
Total compensation		1.2%	0.9%	1.4%	2.2%
Wages and salaries		2.3%	1.8%	2.4%	2.7%

(Source: Compensation Cost Trends)

Data series	Back data	4th quarter 2012
		Compensation component ($ per hour worked)	Percent of total compensation
Compensation costs
Total compensation		37.49	100.0
Wages and salaries		25.27	67.4
Total benefits		12.22	32.6
Insurance		3.36	9.0
Retirement		1.56	4.2

(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	2008	2009	2010	2011
Fatalities
Number of fatalities	14	18	12	23
Rate of injury and illness cases per 100 full-time workers
Total recordable cases	1.1	1.0	0.9	1.1
Cases involving days away from work, job restriction, or transfer	0.4	0.2	0.3	0.3
Cases involving days away from work	0.3	0.2	0.2	0.3
Cases involving days of job transfer or restriction	0.1	0.1	0.1	0.1
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 2011	1st quarter 2012	2nd quarter 2012	3rd quarter 2012
Number of establishments
Private industry		179,045	(P) 178,965	(P) 178,040	(P) 179,042
Local government		22	(P) 22	(P) 24	(P) 24
State government		23	(P) 23	(P) 24	(P) 24
Federal government		730	(P) 726	(P) 699	(P) 702
Footnotes (P) Preliminary

(Source: Quarterly Census of Employment and Wages)

Other BLS Resources

Career Guide to Industries

See banking in the Career Guide to Industries.

 

Data extracted on: May 22, 2013