Funds, Trusts, and Other Financial Vehicles: NAICS 525

About the Funds, Trusts, and Other Financial Vehicles subsector

The funds, trusts, and other financial vehicles subsector is part of the finance and insurance sector.

The funds, trusts, and other financial vehicles subsector consists of these industry groups:

• Insurance and Employee Benefit Funds: NAICS 5251
• Other Investment Pools and Funds: NAICS 5259

NOTE: There was a change in the definition of this subsector between NAICS 2002 and NAICS 2007. Some of the data below reflect the 2002 definition and some reflect the 2007 definition. See the BLS implementation schedule for NAICS 2007 to find out which BLS programs have already implemented NAICS 2007.

Workforce Statistics

This section provides information relating to employment in funds, trusts, and other financial vehicles. 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	Jun. 2008	Jul. 2008	Aug. 2008	Sep. 2008
Employment (in thousands)
Employment, all employees (seasonally adjusted)		87.9	87.8	(P) 88.4	(P) 88.2
Employment, nonsupervisory workers		60.7	61.1	(P) 61.8
Layoffs
Mass layoff events		(1) -	-	(1) -
Initial claimants for unemployment benefits		(1) -	-	(1) -
Footnotes (1) Data do not meet BLS or state agency disclosure standards. (P) Preliminary

(Source: Current Employment Statistics, Mass Layoff Statistics)

Extended Mass Layoffs

Data series	Back data	3rd quarter 2007	4th quarter 2007	1st quarter 2008	2nd quarter 2008
Extended mass layoff events		-	-	(P) -	(P) -
Separations		-	-	(P) -	(P) -
Initial claimants		-	-	(P) -	(P) -
Footnotes (P) Preliminary

(Source: Mass Layoff Statistics)

Employment by Occupation

Data series	Employment, 2007
Accountants and auditors	2,940
Bookkeeping, accounting, and auditing clerks	3,740
Claims adjusters, examiners, and investigators	4,120
Financial analysts
First-line supervisors/managers of office and administrative support workers	2,150

(Source: Occupational Employment Statistics)

Projections

For projected (future) employment estimates, see the National Employment Matrix, which includes employment estimates by industry and occupation for funds, trusts, and other financial vehicles.

(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 funds, trusts, and other financial vehicles.

Earnings and Hours of Production Workers

Data series	Back data	May 2008	Jun. 2008	Jul. 2008	Aug. 2008
Average hourly earnings		$22.90	$22.69	$22.52	(P) $22.57
Average weekly hours		36.6	37.1	37.0	(P) 37.4
Footnotes (P) Preliminary

(Source: Current Employment Statistics)

Earnings by Occupation

Data series	Wages, 2007
	Hourly		Annual
	Median	Mean	Median	Mean
Accountants and auditors	$28.13	$31.85	$58,510	$66,240
Bookkeeping, accounting, and auditing clerks	$17.07	$17.29	$35,500	$35,960
Claims adjusters, examiners, and investigators	$24.55	$26.00	$51,060	$54,080
Financial analysts
First-line supervisors/managers of office and administrative support workers	$26.16	$27.86	$54,410	$57,950

(Source: Occupational Employment Statistics)

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 funds, trusts, and other financial vehicles. 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	2003	2004	2005	2006
Fatalities
Number of fatalities
Rate of injury and illness cases per 100 full-time workers
Total recordable cases	1.0	0.6	1.1	1.2
Cases involving days away from work, job restriction, or transfer	0.5	0.3	0.4	0.7
Cases involving days away from work	0.3	0.2	0.2	0.5
Cases involving days of job transfer or restriction	0.2		0.2	0.2

(Source: Injuries, Illnesses, and Fatalities)

Workplace Trends

This section presents data on the number of establishments in funds, trusts, and other financial vehicles.

Establishments

Data series	Back data	1st quarter 2007	2nd quarter 2007	3rd quarter 2007	4th quarter 2007
Number of establishments
Private industry		(P) 7,320	(P) 7,387	(P) 7,484	(P) 7,538
Local government		(P) 67	(P) 65	(P) 66	(P) 62
State government		(P) 27	(P) 27	(P) 27	(P) 27
Federal government		(P) 4	(P) 4	(P) 4	(P) 4
Footnotes (P) Preliminary

(Source: Quarterly Census of Employment and Wages)

Other BLS Resources

Career Guide to Industries

To learn about careers from an industry perspective, see the Career Guide to Industries.

 

Data extracted on: October 08, 2008