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Industries at a Glance
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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

Data series Back
data
Jun.
2020
Jul.
2020
Aug.
2020
Sep.
2020

Employment (in thousands)

Employment, all employees (seasonally adjusted)

8,605 8,620 (p)8,646 (p)8,683

Employment, production and nonsupervisory employees (seasonally adjusted)

6,571 6,567 (p)6,575 (p)6,592

Unemployment

Unemployment rate

5.1% 4.7% 4.2% 4.4%

Job openings, hires, and separations (in thousands)

Job openings

278 293 (p)276  

Hires

222 267 (p)215  

Separations

183 204 (p)251  

Footnotes
(p) Preliminary

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

Union Membership and Representation

Data series Back
data
2016 2017 2018 2019

Union membership and representation

Members of unions (percent of wage and salary workers)

2.3% 2.4% 2.1% 1.9%

Represented by unions (percent of wage and salary workers)

3.1% 3.1% 2.8% 2.5%

(Source: Current Population Survey)

Dynamic Changes in Employment

Data series Back
data
2nd quarter
2019
3rd quarter
2019
4th quarter
2019
1st quarter
2020

Dynamic changes in employment (in thousands)

Gross job gains

410 386 406 356

Gross job losses

364 364 362 363

(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

Data series Back
data
Jun.
2020
Jul.
2020
Aug.
2020
Sep.
2020

Average hourly earnings

$37.83 $37.73 (p)$38.05 (p)$38.17

Average weekly hours

37.5 37.5 (p)37.5 (p)37.6

Footnotes
(p) Preliminary

(Source: Current Employment Statistics)

Earnings and Hours of Production and Nonsupervisory Employees

Data series Back
data
Jun.
2020
Jul.
2020
Aug.
2020
Sep.
2020

Average hourly earnings

$29.03 $29.15 (p)$29.35 (p)$29.51

Average weekly hours

36.9 37.1 (p)36.8 (p)37.2

Footnotes
(p) Preliminary

(Source: Current Employment Statistics)

Union Membership and Representation

Data series Back
data
Median weekly earnings
2016 2017 2018 2019

Union membership and representation

Full-time workers

$977 $1,009 $1,047 $1,125

Members of unions

$896 $943 $937 $950

Represented by unions

$916 $945 $940 $980

Nonunion

$981 $1,012 $1,052 $1,128

(Source: Current Population Survey)

Employer Compensation Costs

Data series Back
data
4th quarter
2019
1st quarter
2020
2nd quarter
2020
3rd quarter
2020

12-month percent change

Total compensation

3.0% 2.8% 3.1% 2.3%

Wages and salaries

3.0% 3.1% 3.3% 2.2%

(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 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 2015 2016 2017 2018

Fatalities

Number of fatalities

83 118 102 108

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

Data series 2018

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

Total recordable cases

1.0

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

0.5

Cases involving days away from work

0.3

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

Data series Back
data
2nd quarter
2019
3rd quarter
2019
4th quarter
2019
1st quarter
2020

Number of establishments

Private industry

909,748 916,789 926,344 (p)933,220

Local government

1,953 1,955 1,959 (p)1,944

State government

114 114 115 (p)114

Federal government

785 790 783 (p)775

Establishments with changes in employment (in thousands)

With job gains (seasonally adjusted)

157 157 164 150

With job losses (seasonally adjusted)

155 152 152 159

Footnotes
(p) Preliminary

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

 

Data extracted on: October 30, 2020