Friday, August 3, 2012

Charlotte financial employment hits four-year high

Chart from the Bureau of Labor Statistics
The number of financial services jobs in the Charlotte metro area reached 74,300 in June, new data from the Bureau of Labor Statistics shows, the highest it has been since August 2008.

The preliminary data reports employment growth of 5 percent since the beginning of the year in "financial activities," and 2.5 percent growth over the same time last year. Employment is still down 5 percent from its peak in 2006.

The growth comes even as Charlotte's largest bank employers, Bank of America and Wells Fargo, have been shedding jobs. They still maintain more than 35,000 jobs in Charlotte, and have both been hiring mortgage servicers in response to new legal standards.

Other financial firms with locations in Charlotte -- like Ameritrust and US Bancorp-- have been expanding.

The June figures are preliminary and could still be revised. Finance employment also tends to peak in the summer months and fall by the end of the year.

Other government data have shown a more modest recovery in finance and insurance jobs.


Anonymous said...

Charlotte, is always going to be a Financial Industry city. How about that!


Skippy said...

Don't worry about Elizabeth Warren will be one of the keynote speakers this fall and she wants us to be more like China, yeah she really does.