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, mass layoffs, data for occupations common to the industry, and projections of occupational employment change.

Employment and Layoffs

Data series	Back data	Jul. 2009	Aug. 2009	Sep. 2009	Oct. 2009
Employment (in thousands)
Employment, all employees (seasonally adjusted)		2,602.1	2,594.4	(P) 2,589.0	(P) 2,585.0
Employment, nonsupervisory workers		1,932.3	1,917.9	(P) 1,901.6
Layoffs
Mass layoff events		40	31	21	23
Initial claimants for unemployment benefits		3,527	3,273	1,726	1,618
Footnotes (P) Preliminary

(Source: Current Employment Statistics, Mass Layoff Statistics)

Extended Mass Layoffs

Data series	Back data	4th quarter 2008	1st quarter 2009	2nd quarter 2009	3rd quarter 2009
Extended mass layoff events		70	97	(P) 66	(P) 53
Separations		14,363	22,525	(P) 18,891	(P) 8,735
Initial claimants		15,413	23,564	(P) 16,025	(P) 9,292
Footnotes (P) Preliminary

(Source: Mass Layoff Statistics)

Employment by Occupation

Data series	Employment, 2008
Customer service representatives	206,210
Financial managers	99,770
Loan interviewers and clerks	173,870
Loan officers	284,610
Tellers	576,020

(Source: Occupational Employment 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 for production or nonsupervisory employees 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 Production Workers

Data series	Back data	Jun. 2009	Jul. 2009	Aug. 2009	Sep. 2009
Average hourly earnings		$17.42	$17.49	$17.63	(P) $17.56
Average weekly hours		36.1	36.1	37.6	(P) 36.1
Footnotes (P) Preliminary

(Source: Current Employment Statistics)

Earnings by Occupation

Data series	Wages, 2008
	Hourly		Annual
	Median	Mean	Median	Mean
Customer service representatives	$14.37	$14.85	$29,880	$30,880
Financial managers	$39.16	$45.83	$81,450	$95,340
Loan interviewers and clerks	$15.49	$16.18	$32,210	$33,650
Loan officers	$25.89	$30.30	$53,850	$63,030
Tellers	$11.34	$11.63	$23,580	$24,190

(Source: Occupational Employment Statistics)

Employer Compensation Costs

Data series	Back data	4th quarter 2008	1st quarter 2009	2nd quarter 2009	3rd quarter 2009
12-month percent change
Total compensation		1.9%	1.0%	1.1%	0.9%
Wages and salaries		1.5%	0.9%	0.8%	0.8%

(Source: Compensation Cost Trends)

Data series	Back data	2nd quarter 2009
		Compensation component ($ per hour worked)	Percent of total compensation
Compensation costs
Total compensation		33.86	100.0
Wages and salaries		22.83	67.4
Total benefits		11.03	32.6
Insurance		2.89	8.5
Retirement		1.56	4.6

(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 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	2005	2006	2007	2008
Fatalities
Number of fatalities	23	21	24	(P) 14
Rate of injury and illness cases per 100 full-time workers
Total recordable cases	1.0	1.0	1.0	1.1
Cases involving days away from work, job restriction, or transfer	0.4	0.3	0.4	0.4
Cases involving days away from work	0.3	0.2	0.3	0.3
Cases involving days of job transfer or restriction	0.1	0.1	0.1	0.1
Footnotes (P) Preliminary

(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	2nd quarter 2008	3rd quarter 2008	4th quarter 2008	1st quarter 2009
Number of establishments
Private industry		205,409	203,654	201,180	(P) 199,436
Local government		19	19	19	(P) 18
State government		24	24	24	(P) 23
Federal government		925	919	914	(P) 897
Footnotes (P) Preliminary

(Source: Quarterly Census of Employment and Wages)

Other BLS Resources

Career Guide to Industries

See banking in the Career Guide to Industries.

 

Data extracted on: November 20, 2009