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	Oct. 2011	Nov. 2011	Dec. 2011	Jan. 2012
Employment (in thousands)
Employment, all employees (seasonally adjusted)		2,552.2	2,563.4	(P) 2,568.8	(P) 2,563.6
Employment, production and nonsupervisory employees		1,874.4	1,886.0	(P) 1,894.5
Layoffs
Mass layoff events		17	12	8
Initial claimants for unemployment benefits		1,380	1,320	585
Footnotes (P) Preliminary

(Source: Current Employment Statistics, Mass Layoff Statistics)

Extended Mass Layoffs

Data series	Back data	4th quarter 2010	1st quarter 2011	2nd quarter 2011	3rd quarter 2011
Extended mass layoff events		26	28	(P) 42	(P) 22
Separations		6,143	3,422	(P) 7,090	(P) 3,693
Initial claimants		5,980	6,468	(P) 9,473	(P) 4,589
Footnotes (P) Preliminary

(Source: Mass Layoff Statistics)

Employment by Occupation

Data series	Employment, 2010
Customer service representatives	195,420
Financial managers	90,250
Loan interviewers and clerks	149,940
Loan officers	249,230
Tellers	536,380

(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	Sep. 2011	Oct. 2011	Nov. 2011	Dec. 2011
Average hourly earnings		$25.06	$25.39	$25.37	(P) $25.44
Average weekly hours		38.4	39.7	38.4	(P) 38.1
Footnotes (P) Preliminary

(Source: Current Employment Statistics)

Earnings and Hours of Production and Nonsupervisory Employees

Data series	Back data	Sep. 2011	Oct. 2011	Nov. 2011	Dec. 2011
Average hourly earnings		$18.54	$18.59	$18.78	(P) $19.00
Average weekly hours		36.6	37.9	36.5	(P) 36.5
Footnotes (P) Preliminary

(Source: Current Employment Statistics)

Earnings by Occupation

Data series	Wages, 2010
	Hourly		Annual
	Median	Mean	Median	Mean
Customer service representatives	$14.53	$15.30	$30,220	$31,820
Financial managers	$40.71	$48.28	$84,670	$100,420
Loan interviewers and clerks	$16.17	$16.79	$33,630	$34,930
Loan officers	$26.72	$31.38	$55,580	$65,260
Tellers	$11.57	$11.98	$24,060	$24,920

(Source: Occupational Employment Statistics)

Employer Compensation Costs

Data series	Back data	1st quarter 2011	2nd quarter 2011	3rd quarter 2011	4th quarter 2011
12-month percent change
Total compensation		3.6%	3.6%	3.8%	2.4%
Wages and salaries		4.1%	2.9%	3.2%	1.4%

(Source: Compensation Cost Trends)

Data series	Back data	3rd quarter 2011
		Compensation component ($ per hour worked)	Percent of total compensation
Compensation costs
Total compensation		35.67	100.0
Wages and salaries		23.84	66.8
Total benefits		11.83	33.2
Insurance		3.32	9.3
Retirement		1.72	4.8

(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	2007	2008	2009	2010
Fatalities
Number of fatalities	24	14	18	(P) 12
Rate of injury and illness cases per 100 full-time workers
Total recordable cases	1.0	1.1	1.0	0.9
Cases involving days away from work, job restriction, or transfer	0.4	0.4	0.2	0.3
Cases involving days away from work	0.3	0.3	0.2	0.2
Cases involving days of job transfer or restriction	0.1	0.1	0.1	0.1
Footnotes (P) Preliminary

(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	3rd quarter 2010	4th quarter 2010	1st quarter 2011	2nd quarter 2011
Number of establishments
Private industry		183,595	182,587	(P) 180,977	(P) 180,852
Local government		20	20	(P) 21	(P) 21
State government		22	22	(P) 22	(P) 23
Federal government		741	743	(P) 738	(P) 732
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: February 07, 2012