US Securities Industry Employment, 2012 Q2



August 1, 2012

US Securities Industry Employment, 2012 Q2

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

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.

Credits

SIFMA Research 

  • Managing Director, Director of Research: Kyle Brandon
  • Research Analyst: Justyna Podziemska
  • Municipal ULF Intern: Anthony Aquino
  • Municipal ULF Intern: Carrie Chan
 

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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modify or amend this information or to otherwise notify a reader thereof in the event that any such information becomes outdated, inaccurate, or incomplete.


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