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Credit Intermediation and Related Activities: NAICS 522

About the Credit Intermediation and Related Activities subsector

The credit intermediation and related activities subsector is part of the finance and insurance sector.

Industries in the Credit Intermediation and Related Activities subsector group establishments that (1) lend funds raised from depositors; (2) lend funds raised from credit market borrowing; or (3) facilitate the lending of funds or issuance of credit by engaging in such activities as mortgage and loan brokerage, clearinghouse and reserve services, and check cashing services.

North American Industry Classification System

The credit intermediation and related activities subsector consists of these industry groups:

  • Depository Credit Intermediation: NAICS 5221
  • Nondepository Credit Intermediation: NAICS 5222
  • Activities Related to Credit Intermediation: NAICS 5223

Workforce Statistics

This section provides information relating to employment in credit intermediation and related activities. These data are obtained from employer or establishment surveys. The following tables present an overview of the industry including the number of jobs, data for occupations common to the industry, and projections of occupational employment change.

Employment

Data series Back
data
Oct.
2022
Nov.
2022
Dec.
2022
Jan.
2023

Employment (in thousands)

Employment, all employees (seasonally adjusted)

2,694.4 2,685.2 (p)2,683.4 (p)2,682.8

Employment, production and nonsupervisory employees

2,018.3 2,011.4 (p)2,008.5  

Footnotes
(p) Preliminary

(Source: Current Employment Statistics)

Employment by Occupation

Data series Employment,
2021

Customer service representatives

191,900

Financial managers

115,820

Loan interviewers and clerks

196,450

Loan officers

284,310

Tellers

353,440

(Source: Occupational Employment and Wage Statistics)

Projections

For projected (future) employment estimates, see the National Employment Matrix, which includes employment estimates by industry and occupation for credit intermediation and related activities.

(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 are shown. In addition, recent hourly and annual earnings are shown for occupations commonly found in credit intermediation and related activities. This section also contains information on the average cost of benefits paid by employers, as well as recent rates of change in wages and total compensation.

Earnings and Hours of All Employees

Data series Back
data
Sep.
2022
Oct.
2022
Nov.
2022
Dec.
2022

Average hourly earnings

$41.78 $42.73 $42.34 (p)$42.28

Average weekly hours

37.8 38.8 38.0 (p)38.0

Footnotes
(p) Preliminary

(Source: Current Employment Statistics)

Earnings and Hours of Production and Nonsupervisory Employees

Data series Back
data
Sep.
2022
Oct.
2022
Nov.
2022
Dec.
2022

Average hourly earnings

$29.19 $29.58 $29.39 (p)$29.19

Average weekly hours

37.7 38.4 37.7 (p)37.6

Footnotes
(p) Preliminary

(Source: Current Employment Statistics)

Earnings by Occupation

Data series Wages, 2021
Hourly Annual
Median Mean Median Mean

Customer service representatives

18.13 19.54 37,720 40,640

Financial managers

57.63 64.17 119,870 133,480

Loan interviewers and clerks

22.05 21.55 45,860 44,820

Loan officers

30.27 38.26 62,950 79,570

Tellers

17.44 16.75 36,280 34,840

(Source: Occupational Employment and Wage 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
2022 Back
data
2022

Private industry

Retirement benefit plans

95 89

Defined benefit plans

49 24

Defined contribution plans

95 88

(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

13 20

(Source: Employee Benefits in the United States)

Data series Back
data
2022

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

Health care

97

Paid vacation

98

Paid sick leave

98

(Source: Employee Benefits in the United States)

Employer Compensation Costs

Data series Back
data
1st quarter
2022
2nd quarter
2022
3rd quarter
2022
4th quarter
2022

Private industry

12-month percent change

Total compensation

5.2% 6.3% 0.6% 3.6%

Wages and salaries

6.1% 6.1% -2.1% 2.1%

3-month percent change

Total compensation

-0.2% 3.9% -0.4% 0.3%

Wages and salaries

-1.4% 4.2% -0.9% 0.3%

(Source: Compensation Cost Trends)

Data series Private industry
Compensation component
($ per hour worked)
Percent of total compensation
Back
data
3rd quarter 2022 Back
data
3rd quarter 2022

Total compensation

54.52 100.0

Wages and salaries

36.09 66.2

Total benefits

18.43 33.8

Insurance

5.02 9.2

Retirement

1.98 3.6

Paid leave

5.17 9.5

(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 credit intermediation and related 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 2018 2019 2020 2021

Fatalities

Number of fatalities

10 9 9 9

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

Data series 2021

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

Total recordable cases

0.5

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

0.3

Cases involving days away from work

0.2

Cases involving days of job transfer or restriction

(1)0.0

Footnotes
(1) Rate rounded to zero

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 in credit intermediation and related activities.

Establishments

Data series Back
data
3rd quarter
2021
4th quarter
2021
1st quarter
2022
2nd quarter
2022

Number of establishments

Private industry

189,311 191,179 (p)192,441 (p)193,309

Local government

42 42 (p)39 (p)40

State government

24 24 (p)21 (p)21

Federal government

626 621 (p)625 (p)634

Footnotes
(p) Preliminary

(Source: Quarterly Census of Employment and Wages)

 

Data extracted on: February 06, 2023