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 decreased by 5,900 positions in 3Q'12, according to the U.S. Department of Labor's Bureau of Labor Statistics (BLS). As of end-September, there were 799,900 people employed by the industry, a 0.7 percent decline from 2Q'12 and a 0.8 percent decrease year-over-year (y-o-y). It was the fourth quarterly decrease of securities industry employment in the U.S. in the past five quarters and came after discouraging industry results in the second quarter, when U.S. broker-dealers posted a quarterly net income of $4.1 billion, a 46 percent decline from $7.5 billion earned in 1Q'12.
The tri-state area (Connecticut, New Jersey, and New York) lost 1,900 securities industry jobs in 3Q'12, employing 259,100 people at the end of September 2012, a 0.7 percent decrease from 2Q'12 and a 1.3 percent decline from 3Q'11. The tri-state area accounts for 32.4 percent of the securities industry employment nationwide, unchanged from previous quarter and down slightly from 32.6 percent in 3Q'11.
Credits
SIFMA Research
- Managing Director, Director of Research: Kyle Brandon
- Research Analyst: Justyna Podziemska
