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.
U.S. securities industry employment increased by 6,800 positions in 2Q'12, according to the U.S. Department of Labor's Bureau of Labor Statistics (BLS). As of end-June, there were 807,000 people employed by the industry, a 0.8 percent increase from 1Q'12, but a 0.5 percent decrease year-over-year (y-o-y). It was the first quarterly increase after three consecutive quarterly declines in U.S. securities industry employment, coming after encouraging industry results in the previous quarter, when broker-dealers posted a quarterly net income of $7.5 billion.
The tri-state area (Connecticut, New Jersey, and New York) gained 1,900 securities industry jobs in 2Q'12, employing 260,900 people at the end of June 2012, a 0.7 percent increase quarter-over-quarter (q-o-q), but a 0.8 percent decline from year-over-year (y-o-y). The increase in securities industry employment in the tri-state area was due to increase in New York State and Connecticut of 2,500 and 300 jobs, respectively, while employment in New Jersey declined by 900 jobs. The tri-state area accounts for 32.3 percent of the securities industry employment nationwide, down slightly from 32.4 percent in both the previous quarter and 2Q'11.
- Managing Director, Director of Research: Kyle Brandon
- Research Analyst: Justyna Podziemska
- Municipal ULF Intern: Anthony Aquino
- Municipal ULF Intern: Carrie Chan