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.
2018
Sep.
2018
Oct.
2018
Nov.
2018

Employment (in thousands)

Employment, all employees (seasonally adjusted)

8,587 8,604 (p)8,616 (p)8,622

Employment, production and nonsupervisory employees (seasonally adjusted)

6,654 6,668 (p)6,682 (p)6,675

Unemployment

Unemployment rate

2.7% 2.7% 2.0% 2.1%

Job openings, hires, and separations (in thousands)

Job openings

446 (p)350    

Hires

226 (p)202    

Separations

278 (p)198    

Footnotes
(p) Preliminary

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

Union Membership and Representation

Data series Back
data
2014 2015 2016 2017

Union membership and representation

Members of unions (percent of wage and salary workers)

2.0% 2.4% 2.3% 2.4%

Represented by unions (percent of wage and salary workers)

2.4% 2.8% 3.1% 3.1%

(Source: Current Population Survey)

Dynamic Changes in Employment

Data series Back
data
2nd quarter
2017
3rd quarter
2017
4th quarter
2017
1st quarter
2018

Dynamic changes in employment (in thousands)

Gross job gains

394 374 389 351

Gross job losses

346 366 370 338

(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.
2018
Sep.
2018
Oct.
2018
Nov.
2018

Average hourly earnings

$34.93 $35.04 (p)$34.97 (p)$35.17

Average weekly hours

37.6 37.5 (p)37.8 (p)37.8

Footnotes
(p) Preliminary

(Source: Current Employment Statistics)

Earnings and Hours of Production and Nonsupervisory Employees

Data series Back
data
Aug.
2018
Sep.
2018
Oct.
2018
Nov.
2018

Average hourly earnings

$26.96 $27.01 (p)$26.97 (p)$27.07

Average weekly hours

37.1 37.0 (p)37.1 (p)37.1

Footnotes
(p) Preliminary

(Source: Current Employment Statistics)

Union Membership and Representation

Data series Back
data
Median weekly earnings
2014 2015 2016 2017

Union membership and representation

Full-time workers

$941 $964 $977 $1,009

Members of unions

$879 $915 $896 $943

Represented by unions

$884 $924 $916 $945

Nonunion

$942 $964 $981 $1,012

(Source: Current Population Survey)

Employer Compensation Costs

Data series Back
data
4th quarter
2017
1st quarter
2018
2nd quarter
2018
3rd quarter
2018

12-month percent change

Total compensation

2.0% 3.3% 3.2% 3.1%

Wages and salaries

2.1% 3.7% 3.5% 3.2%

(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 2013 2014 2015 2016

Fatalities

Number of fatalities

87 117 83 118

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

Data series 2017

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

0.4

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
3rd quarter
2017
4th quarter
2017
1st quarter
2018
2nd quarter
2018

Number of establishments

Private industry

873,988 882,180 (p)883,745 (p)889,785

Local government

1,816 1,821 (p)1,961  

State government

111 111 (p)111  

Federal government

814 813 (p)797  

Establishments with changes in employment (in thousands)

With job gains (seasonally adjusted)

152 157 152  

With job losses (seasonally adjusted)

153 152 150  

Footnotes
(p) Preliminary

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

 

Data extracted on: December 07, 2018