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.

Industries at a Glance
PRINT:Print

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
Feb.
2020
Mar.
2020
Apr.
2020
May
2020

Employment (in thousands)

Employment, all employees (seasonally adjusted)

8,845 8,827 (p)8,563 (p)8,596

Employment, production and nonsupervisory employees (seasonally adjusted)

6,852 6,823 (p)6,558 (p)6,550

Unemployment

Unemployment rate

1.6% 2.2% 5.4% 5.7%

Job openings, hires, and separations (in thousands)

Job openings

383 (p)316    

Hires

212 (p)203    

Separations

184 (p)328    

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
4th quarter
2018
1st quarter
2019
2nd quarter
2019
3rd quarter
2019

Dynamic changes in employment (in thousands)

Gross job gains

394 362 407 383

Gross job losses

376 343 357 364

(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
Feb.
2020
Mar.
2020
Apr.
2020
May
2020

Average hourly earnings

$36.85 $36.81 (p)$37.33 (p)$37.81

Average weekly hours

37.6 37.6 (p)37.7 (p)37.8

Footnotes
(p) Preliminary

(Source: Current Employment Statistics)

Earnings and Hours of Production and Nonsupervisory Employees

Data series Back
data
Feb.
2020
Mar.
2020
Apr.
2020
May
2020

Average hourly earnings

$28.25 $28.32 (p)$28.75 (p)$29.12

Average weekly hours

36.8 36.7 (p)36.9 (p)37.1

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
2nd quarter
2019
3rd quarter
2019
4th quarter
2019
1st quarter
2020

12-month percent change

Total compensation

2.2% 3.1% 3.0% 2.8%

Wages and salaries

1.9% 3.0% 3.0% 3.1%

(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
1st quarter
2019
2nd quarter
2019
3rd quarter
2019
4th quarter
2019

Number of establishments

Private industry

(p)903,690 (p)910,326 (p)917,725 (p)926,618

Local government

(p)1,949 (p)1,954 (p)1,956 (p)1,960

State government

(p)112 (p)114 (p)114 (p)115

Federal government

(p)791 (p)785 (p)790 (p)783

Establishments with changes in employment (in thousands)

With job gains (seasonally adjusted)

154 156 155  

With job losses (seasonally adjusted)

154 153 152  

Footnotes
(p) Preliminary

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

 

Data extracted on: June 05, 2020