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.

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