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.
2019
Mar.
2019
Apr.
2019
May
2019

Employment (in thousands)

Employment, all employees (seasonally adjusted)

8,626 8,637 (p)8,650 (p)8,652

Employment, production and nonsupervisory employees (seasonally adjusted)

6,684 6,692 (p)6,701 (p)6,704

Unemployment

Unemployment rate

2.6% 2.8% 2.1% 1.7%

Job openings, hires, and separations (in thousands)

Job openings

302 338 (p)399  

Hires

160 178 (p)252  

Separations

155 161 (p)239  

Footnotes
(p) Preliminary

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

Union Membership and Representation

Data series Back
data
2015 2016 2017 2018

Union membership and representation

Members of unions (percent of wage and salary workers)

2.4% 2.3% 2.4% 2.1%

Represented by unions (percent of wage and salary workers)

2.8% 3.1% 3.1% 2.8%

(Source: Current Population Survey)

Dynamic Changes in Employment

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

Dynamic changes in employment (in thousands)

Gross job gains

389 351 389 375

Gross job losses

370 338 354 386

(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.
2019
Mar.
2019
Apr.
2019
May
2019

Average hourly earnings

$35.53 $35.58 (p)$35.80 (p)$35.92

Average weekly hours

37.7 37.7 (p)37.7 (p)37.6

Footnotes
(p) Preliminary

(Source: Current Employment Statistics)

Earnings and Hours of Production and Nonsupervisory Employees

Data series Back
data
Feb.
2019
Mar.
2019
Apr.
2019
May
2019

Average hourly earnings

$27.47 $27.39 (p)$27.54 (p)$27.73

Average weekly hours

37.0 37.0 (p)37.0 (p)37.0

Footnotes
(p) Preliminary

(Source: Current Employment Statistics)

Union Membership and Representation

Data series Back
data
Median weekly earnings
2015 2016 2017 2018

Union membership and representation

Full-time workers

$964 $977 $1,009 $1,047

Members of unions

$915 $896 $943 $937

Represented by unions

$924 $916 $945 $940

Nonunion

$964 $981 $1,012 $1,052

(Source: Current Population Survey)

Employer Compensation Costs

Data series Back
data
2nd quarter
2018
3rd quarter
2018
4th quarter
2018
1st quarter
2019

12-month percent change

Total compensation

3.2% 3.1% 3.3% 2.7%

Wages and salaries

3.5% 3.2% 3.1% 2.6%

(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 2014 2015 2016 2017

Fatalities

Number of fatalities

117 83 118 102

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

Number of establishments

Private industry

(p)883,947 (p)890,152 (p)895,789 (p)903,034

Local government

(p)1,958 (p)1,952 (p)1,951 (p)1,950

State government

(p)111 (p)111 (p)111 (p)111

Federal government

(p)798 (p)794 (p)792 (p)798

Establishments with changes in employment (in thousands)

With job gains (seasonally adjusted)

152 152 151  

With job losses (seasonally adjusted)

150 152 157  

Footnotes
(p) Preliminary

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

 

Data extracted on: June 21, 2019