US Securities Industry Employment, 2012 Q1

U.S. securities industry employment declined by 4,400 positions in 1Q’12, according to the U.S. Department of Labor’s Bureau of Labor Statistics (BLS). As of end-March, there were 800,100 people employed by the industry, a 0.6 percent decline from 4Q’11 and a 0.8 percent decrease year-over-year (y-o-y). It was the third consecutive quarterly decline of securities industry employment in the U.S. and came after the very disappointing industry results in the previous quarter, when the broker-dealers posted a quarterly loss of $67.6 million.

The tri-state area (Connecticut, New Jersey, and New York) lost 900 securities industry jobs in 1Q’12, employing 259,00 people at the end of March 2012, 0.4 percent fewer than in 4Q’11 but a 0.5 percent increase from 1Q’11. The decline in securities industry employment in the tri-state area was due to losses of 500 jobs in both New York State and New Jersey, while employment in Connecticut increased slightly by 100 jobs. The tri-state area accounts for 32.4 percent of securities industry positions nationwide, up slightly from 32.3 percent in the previous quarter and from 32.0 percent in 1Q’11.

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.

Credits

SIFMA Research

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