Savings institutions, including credit unions

Industry Group

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Workforce

6.43M

2019 BLS Estimate

Average Employee Age

40.9

Estimated Job Growth

1.03%

10-Year Projection

Average Salary

$56,244

Average Male Salary

$76,726

Average Female Salary

$75,403

About

The top three occupations in the Savings institutions, including credit unions Industry Group are Tellers, Financial managers, Credit counselors & loan officers, Customer service representatives, and Loan interviewers & clerks. On average, full-time employees in the Savings institutions, including credit unions Industry Group work 41.6 hours per week and have an average annual salary of $59,883. Part-time employees in the same industry work 24.3 hours and earn an average annual salary of $21,557.

The locations with the highest concentration of employees in the Savings institutions, including credit unions Industry Group are Escambia County (North) PUMA, FL, Roy, North Ogden, Ogden (Northwest) & West Haven Cities PUMA, UT, and Santa Rosa County PUMA, FL. The industry that purchases the most products or services from the Hospitals Industry Group is Savings institutions, including credit unions .

Photo by Ken Teegardin

Workforce

A snapshot of jobs, wages, and opportunities in the Savings institutions, including credit unions Industry Group. Tellers are the most common position, but the Savings institutions, including credit unions Industry Group employs a relatively high number of Tellers, compared to other industries.

The highest average salary in Savings institutions, including credit unions goes to Lawyers, & judges, magistrates, & other judicial workers.

Monthly Employment

Showing data for the Financial Activities industry sector.

Start Year

Y-Axis

1.67%

Year-over-year growth

Employment change between May 2020 and May 2021

As of May 2021, there are 8.56M people employed in the Financial Activities industry. This represents a 1.67% increase in employment when compared to May 2020.

This chart shows monthly employment numbers for Financial Activities over time (non-seasonally adjusted).

Occupations by Share

6.43M

Workforce (BLS Estimate)

ACS Estimate: 297k

3.59%

1 Year Growth

± 6.2%

The Bureau of Labor Statistics estimates that there were 6.43M people employed in the Savings institutions, including credit unions Industry Group in 2019.

According to ACS estimates, the number of people employed in the Savings institutions, including credit unions Industry Group has been growing at a rate of 3.59%, , from 286k people in 2019 to 297k people in 2020.

The following graphic shows the share of employment in Savings institutions, including credit unions by various occupations according to ACS estimates. Tellers represent the largest share of positions held in Savings institutions, including credit unions at 16.4%, followed by Financial managers with 15.3% and Credit counselors & loan officers with 10.8%.

Most Common

The most common occupations in the Savings institutions, including credit unions Industry Group, by number of employees, are Tellers, Financial managers, Credit counselors & loan officers, Customer service representatives, and Loan interviewers & clerks.

Most Specialized

Compared to other Industry Groups, Savings institutions, including credit unions employs an unusually high number of Tellers, New accounts clerks, and Credit counselors & loan officers.

Highest Paid

The highest paid occupations in Savings institutions, including credit unions , by average wage, are Lawyers, & judges, magistrates, & other judicial workers, Chief executives & legislators, and Information security analysts.

Average Salary

$56,244

AVERAGE WAGE

± $2,408

On average, employees in the Savings institutions, including credit unions Industry Group make $56,244 per year. This number makes Savings institutions, including credit unions the 125 highest paying Industry Group in the United States out of a total of 269 Industry Groups.

Wage by Location

HIGHEST PAYING PUBLIC USE MICRODATA AREA

HIGHEST PAYING PUMAS

This map shows which public use microdata areas (PUMAs) pay the highest average salary to employees in the Savings institutions, including credit unions Industry Group.

Wage Distribution

0.377

WAGE GINI

Savings institutions, including credit unions has a wage GINI of 0.377, which is less than than the national average of 0.478. In other words, wages are distributed more evenly in Savings institutions, including credit unions (shown in red) in comparison to the national average for those wage buckets (shown in gray).

Spatial Concentration

Public Use Microdata Areas with RCA

This map shows the PUMAs in the United States that have revealed comparative advantage in the Savings institutions, including credit unions Industry Group.

These are locations that employ more people in the Savings institutions, including credit unions Industry Group than expected given both the size of that location's overall labor pool and the national size of the Savings institutions, including credit unions Industry Group.

Diversity

Demographic information on the Savings institutions, including credit unions Industry Group in the US. Male employees tend to earn more than Female employees, with average respective salaries of $76,726 and $75,403. So too tend to earn more than other races and ethnicities in this industry.

Composition by Sex

210k

FEMALE WORKFORCE

±11.3k

86.1k

MALE WORKFORCE

±7.2k

71% of workers in the Savings institutions, including credit unions Industry Group are Female, making them the more common sex in the workforce. This chart shows the sex breakdown of the Savings institutions, including credit unions Industry Group.

Wage by Sex in Common Jobs

$76,726

AVERAGE MALE SALARY

±$6,319

$75,403

AVERAGE FEMALE SALARY

±$6,519

On average, Male workers in the Savings institutions, including credit unions Industry Group make 1.02 times more than their Female counterparts. This chart shows the sex-based wage disparity in the 5 most common occupations in the Savings institutions, including credit unions Industry Group.

Wage by Race & Ethnicity in Common Jobs

RACE OR ETHNICITY WITH THE HIGHEST AVERAGE SALARY

Native Hawaiian and Other Pacific Islander
Asian
White

On average, Native Hawaiian and Other Pacific Islander employees in the Savings institutions, including credit unions Industry Group earn 1.24 times more than other races and ethnicities. This chart shows the race and ethnicity-based wage disparities in the 5 most common occupations in the Savings institutions, including credit unions Industry Group.

Input/Output

Estimates of the sources of the costs and the purchasers of the products in the Savings institutions, including credit unions Industry Group. Based on estimates from the Bureau of Economic Analysis, this section indicates the amount of money spent by a specific industry in other industries. Finance, insurance, real estate, rental, and leasing has the highest single input, by dollars, to the Savings institutions, including credit unions Industry Group, and the largest industry purchasing services from the Savings institutions, including credit unions Industry Group is Finance, insurance, real estate, rental, and leasing.

In this flow diagram, all of the industries listed to the left are those places from which the highlighted industry has made purchases. They are the intermediate inputs to the highlighted industry. All those industries listed on the right side are those industries that have made purchases from the highlighted industry. They are the use of outputs of the highlighted industry. The visualizations below offer alternative ways to see and understand this data.

Industrial Flow

The closest comparable data for Savings institutions, including credit unions is from Finance & Insurance, and Real Estate, Rental & Leasing.

Intermediate Inputs

The closest comparable data for Savings institutions, including credit unions is from Finance & Insurance, and Real Estate, Rental & Leasing.

HIGHEST INPUT INDUSTRY

The Savings institutions, including credit unions Industry Group gets the most input, by its share of the cost of all intermediate inputs, from the Finance, insurance, real estate, rental, and leasing Industry. This visualization does not include labor and capital costs.

Use of Output by Other Industries

The closest comparable data for Savings institutions, including credit unions is from Finance & Insurance, and Real Estate, Rental & Leasing.

LARGEST PURCHASING INDUSTRY

The Finance, insurance, real estate, rental, and leasing Industry purchases the greatest share of products and services from the Savings institutions, including credit unions Industry Group in order to produce other goods and services. Purchases of the Savings institutions, including credit unions Industry Group for final consumption by consumers, businesses, or government are not included here.

Projections

Growth projections of the Finance and Insurance industry, both by number of employees and output, from the Bureau of Labor and Statistics. The national workforce is projected to grow 7.66% in the next ten years. The Finance and Insurance industry has a lower projected workforce growth at 1.03%. Its projected 10-year growth in output (15.2%) is lower than the projected national growth in output (24.2%).

Job Growth

For growth projections, the closest comparible industry reported by the Bureau of Labor Statistics is Finance and Insurance.

1.03%

Estimated Job Growth

10-year Projection

7.66%

National Growth

10-year Projection

This line chart shows the projected 10-year growth in the number of jobs for Finance and Insurance. This industry is expected to grow less than than 7.66%, the average rate of national job growth.