Employment
The banking industry employed about 1.8 million wage and salary workers in 2004. About 7 out of 10 jobs were in commercial banks; the remainder were concentrated in savings institutions and credit unions (table 1).
| Industry segment | Establishments | Employment |
|---|---|---|
| ||
Total | 100.0 | 100.0 |
| ||
Monetary authorities - Central Bank | 0.2 | 1.2 |
| ||
Depository credit intermediation | 99.8 | 98.8 |
Commercial banking | 69.0 | 72.2 |
Savings institutions | 15.2 | 13.8 |
Credit unions | 14.5 | 11.8 |
Other depository credit intermediation | 1.1 | 1.0 |
In 2004, about 83 percent of establishments in banking employed fewer than 20 workers (chart 1). However, these small establishments, mostly bank branch offices, employed 34 percent of all employees. About 66 percent of the jobs were in establishments with 20 or more workers. Banks are found everywhere in the United States, but most bank employees work in heavily populated States such as New York, California, Illinois, Pennsylvania, and Texas.
