Employment in the financial sector – additional information
The employment level in all of the commercial banks insured by the Federal Deposit Insurance Corporation (FDIC) in the United States has risen over time. The number of jobs changed from 1.88 million in 2009 to 1.95 million in 2021. The increase in employment was not matched by an increase in number of banks. The number of FDIC-insured commercial banks in the United States decreased from 6,826 in 2009 to 4,236 in 2021.
As far as the investment fund industry is concerned, the number of employees amounted to 178 thousand in 2017, exceeding the employment level observed in this sector before the financial crisis in 2008.
The financial sector is one of the industries with lowest unemployment rates in the United States.