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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
Aug.
2021
Sep.
2021
Oct.
2021
Nov.
2021

Employment (in thousands)

Employment, all employees (seasonally adjusted)

8,854 8,866 (p)8,892 (p)8,905

Employment, production and nonsupervisory employees (seasonally adjusted)

6,669 6,687 (p)6,706 (p)6,703

Unemployment

Unemployment rate

3.2% 2.5% 1.9% 2.0%

Job openings, hires, and separations (in thousands)

Job openings

468 428 (p)497  

Hires

213 297 (p)235  

Separations

254 270 (p)190  

Footnotes
(p) Preliminary

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

Union Membership and Representation

Data series Back
data
2017 2018 2019 2020

Union membership and representation

Members of unions (percent of wage and salary workers)

2.4% 2.1% 1.9% 1.9%

Represented by unions (percent of wage and salary workers)

3.1% 2.8% 2.5% 2.7%

(Source: Current Population Survey)

Dynamic Changes in Employment

Data series Back
data
2nd quarter
2020
3rd quarter
2020
4th quarter
2020
1st quarter
2021

Dynamic changes in employment (in thousands)

Gross job gains

317 453 432 386

Gross job losses

638 375 371 339

(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
Aug.
2021
Sep.
2021
Oct.
2021
Nov.
2021

Average hourly earnings

$40.09 $40.25 (p)$40.52 (p)$40.74

Average weekly hours

37.5 37.5 (p)37.6 (p)37.5

Footnotes
(p) Preliminary

(Source: Current Employment Statistics)

Earnings and Hours of Production and Nonsupervisory Employees

Data series Back
data
Aug.
2021
Sep.
2021
Oct.
2021
Nov.
2021

Average hourly earnings

$30.53 $30.61 (p)$30.80 (p)$30.95

Average weekly hours

37.3 37.4 (p)37.4 (p)37.4

Footnotes
(p) Preliminary

(Source: Current Employment 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
2021 Back
data
2021

Private industry

Retirement benefit plans

85 77

Defined benefit plans

37 24

Defined contribution plans

85 74

(Source: Employee Benefits in the United States)

Data series After 1 year of service After 20 years of service
Back
data
2021 Back
data
2021

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

12 19

(Source: Employee Benefits in the United States)

Data series Back
data
2021

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

Health care

89

Paid vacation

95

Paid sick leave

94

(Source: Employee Benefits in the United States)

Employer Compensation Costs

Data series Back
data
4th quarter
2020
1st quarter
2021
2nd quarter
2021
3rd quarter
2021

Private industry

12-month percent change

Total compensation

2.3% 5.3% 2.9% 4.5%

Wages and salaries

2.3% 6.3% 3.7% 6.3%

3-month percent change

Total compensation

0.1% 3.8% -1.2% 1.8%

Wages and salaries

0.4% 5.1% -1.6% 2.4%

(Source: Compensation Cost Trends)

Data series Private industry
Compensation component
($ per hour worked)
Percent of total compensation
Back
data
2nd quarter 2021 Back
data
2nd quarter 2021

Total compensation

52.43 100.0

Wages and salaries

35.31 67.3

Total benefits

17.12 32.7

Insurance

4.44 8.5

Retirement

1.83 3.5

Paid leave

4.53 8.6

(Source: Compensation Cost Trends)

Union Membership and Representation

Data series Back
data
Median weekly earnings
2017 2018 2019 2020

Union membership and representation

Full-time workers

$1,009 $1,047 $1,125 $1,187

Members of unions

$943 $937 $950 $1,012

Represented by unions

$945 $940 $980 $1,112

Nonunion

$1,012 $1,052 $1,128 $1,194

(Source: Current Population Survey)

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 2016 2017 2018 2019

Fatalities

Number of fatalities

118 102 108 111

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

Data series 2020

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

Total recordable cases

0.8

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

0.4

Cases involving days away from work

0.3

Cases involving days of job transfer or restriction

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 and the number of establishments experiencing job gains or job losses in financial activities.

Establishments

Data series Back
data
3rd quarter
2020
4th quarter
2020
1st quarter
2021
2nd quarter
2021

Number of establishments

Private industry

947,983 961,391 (p)966,356 (p)979,492

Local government

1,927 1,914 (p)1,912 (p)1,908

State government

117 118 (p)118 (p)121

Federal government

775 770 (p)770 (p)770

Establishments with changes in employment (in thousands)

With job gains (seasonally adjusted)

170 169 163  

With job losses (seasonally adjusted)

158 150 152  

Footnotes
(p) Preliminary

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

 

Data extracted on: December 08, 2021