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	Dec. 2008	Jan. 2009	Feb. 2009	Mar. 2009
Employment (in thousands)
Employment, all employees (seasonally adjusted)		2,680.8	2,665.3	(P) 2,652.9	(P) 2,637.7
Employment, nonsupervisory workers		1,977.8	1,967.1	(P) 1,958.2
Layoffs
Mass layoff events		23	43	49	34
Initial claimants for unemployment benefits		1,887	3,828	3,813	2,449
Footnotes (P) Preliminary

(Source: Current Employment Statistics, Mass Layoff Statistics)

Extended Mass Layoffs

Data series	Back data	1st quarter 2008	2nd quarter 2008	3rd quarter 2008	4th quarter 2008
Extended mass layoff events		71	55	(P) 60	(P) 63
Separations		(R) 13,383	23,967	(P) 11,307	(P) 10,967
Initial claimants		(R) 15,092	13,265	(P) 11,774	(P) 9,848
Footnotes (R) Revised (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	Nov. 2008	Dec. 2008	Jan. 2009	Feb. 2009
Average hourly earnings		$17.56	$17.45	$17.36	(P) $17.63
Average weekly hours		37.5	36.2	36.5	(P) 37.8
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	2nd quarter 2008	3rd quarter 2008	4th quarter 2008	1st quarter 2009
12-month percent change
Total compensation		3.2%	2.8%	1.9%	1.0%
Wages and salaries		2.9%	2.3%	1.5%	0.9%

(Source: Compensation Cost Trends)

Data series	Back data	4th quarter 2008
		Compensation component ($ per hour worked)	Percent of total compensation
Compensation costs
Total compensation		33.66	100.0
Wages and salaries		22.72	67.5
Total benefits		10.94	32.5
Insurance		2.79	8.3
Retirement		1.53	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	2004	2005	2006	2007
Fatalities
Number of fatalities	26	23	21	24
Rate of injury and illness cases per 100 full-time workers
Total recordable cases	1.0	1.0	1.0	1.0
Cases involving days away from work, job restriction, or transfer	0.4	0.4	0.3	0.4
Cases involving days away from work	0.3	0.3	0.2	0.3
Cases involving days of job transfer or restriction	0.1	0.1	0.1	0.1

(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	4th quarter 2007	1st quarter 2008	2nd quarter 2008	3rd quarter 2008
Number of establishments
Private industry		207,582	(P) 208,114	(P) 205,917	(P) 205,452
Local government		18	(P) 18	(P) 19	(P) 19
State government		24	(P) 25	(P) 24	(P) 24
Federal government		925	(P) 925	(P) 925	(P) 925
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: May 01, 2009