US Securities Industry Employment, 2011 Q1



May 4, 2011

US Securities Industry Employment, 2011 Q1

About the Report

The securities industry employment report tracks trends of industry employment, with a greater focus on New York State and New York City giving a perspective using quarter-over-quarter and year-over-year data.

Summary

After increasing by 600 jobs in 4Q'10, U.S. securities industry employment expanded further, adding 2,200 positions (0.3 percent) in 1Q'11. The securities industry added jobs despite the overall decrease in employment in the U.S.; U.S. nonfarm employment shrunk by 1.1 million jobs, or 0.9 percent, in the first quarter. The preliminary figure of 806,500 employed in the securities industry as of end-March is the highest since June 2009, when employment stood at 808,700 jobs. Industry employment remains 7.8 percent below its all-time high of 874,500 in June 2008, but has been showing an upward trend since the post-crisis low of 195,600 jobs in March 2010.

Over 40 percent of the jobs created in U.S. securities industry in 1Q'11 were added in the tri-state area (Connecticut, New Jersey, and New York). The U.S. Department of Labor's Bureau of Labor Statistics (BLS) reported a 0.4 percent increase (900 jobs) in securities industry employment in these three states. Although a much smaller increase than in 4Q'10, when the industry gained 4,300 jobs (1.7 percent) in the tri-state area, it is a significant improvement over the loss of 2,400 jobs (0.9 percent) in 1Q'10. The tri-state area represents a third of the industry's employment nationwide, with 260,800 jobs.

Securities industry employment in New York State increased by 700 jobs (0.4 percent) in 1Q'11, driven by growth outside of NYC, which accounted for over 70 percent of the increase this quarter. NYC still accounts for 90 percent of securities industry employment in the state and gained 200 jobs in 1Q'11, a 0.1 percent improvement from 4Q'10.

Credits

SIFMA Research 

  • Managing Director, Director of Research: Kyle Brandon
  • Research Analyst: Justyna Podziemska
 

Downloads

Get the free Adobe Reader to view these documents

Disclaimer

The Securities Industry and Financial Markets Association (SIFMA) prepared this material for informational purposes only. SIFMA obtained this information from multiple sources believed to be reliable as of the date of publication; SIFMA, however, makes no representations as to the accuracy or completeness of such third party information. SIFMA has no obligation to update, modify or amend this information or to otherwise notify a reader thereof in the event that any such information becomes outdated, inaccurate, or incomplete.


Join SIFMA

Learn How ›

Contact

Email: research@sifma.org
Call: 212.313.1200

Research Reports

Monthly analysis of critical issues affecting the financial services industry.

Featured Events

FATCA Policy Symposium 2014

October 6-7, 2014

City Club of Washington, DC

Securities Financing Transactions 2014

Tuesday, October 07, 2014

SIFMA Conference Center, New York, NY

Ethics Seminar 2014

Tuesday, October 28, 2014

SIFMA Conference Center, New York, NY

SIFMA 2014 Annual Meeting

Monday, November 10, 2014

New York Marriott Marquis, New York, NY

Market Data