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Ranking List: Distribution & Changes in Financial Sector Jobs of All US States, Taxes Tops Adding 47K Jobs Than 10 Years Ago

Ranking List: Distribution & Changes in Financial Sector Jobs of All US States, Taxes Tops Adding 47K Jobs Than 10 Years Ago

Employment in the financial sector has risen above 2001 levels in 21 states, a sign that the banking industry is regaining some of its past vigor. Texas is enjoying the sharpest upswing, according to an On Numbers analysis of new federal data. The financial sector in Texas contained 622,900 jobs last month, which was 47,200 above the corresponding figure for April 2001.

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Employment in the financial sector has risen above 2001 levels in 21 states, a sign that the banking industry is regaining some of its past vigor.

Texas is enjoying the sharpest upswing, according to an On Numbers analysis of new federal data. The financial sector in Texas contained 622,900 jobs last month, which was 47,200 above the corresponding figure for April 2001.

North Carolina was second with a 10-year gain of 16,100 financial jobs. The only other states to post five-figure increases were Arizona (up 10,500 financial jobs in a decade) and South Carolina (up 10,000).

See the database at the end of this story for a state-by-state breakdown of the latest figures from the U.S. Bureau of Labor Statistics. This report follows a similar analysis yesterday of private-sector employment trends that foundTexas leads the nation in private-sector jobs growth.

The decade began and ended in rocky fashion for the nation’s banking industry, which was disrupted by the 9/11 terrorist attacks in 2001 and the recession of 2008-2010.

Twenty-nine states and the District of Columbia have fewer financial jobs today than a decade ago. The sharpest drops occurred in California (down 70,600) and New York (down 64,400).

The following chart contains employment figures for the financial sector in 2001, 2010 and 2011. It can be re-sorted by any category. Just click on the appropriate header.

 


STATE-BY-STATE FINANCIAL ACTIVITIES EMPLOYMENT

StateFinancial jobs (April 2001)Financial jobs (April 2010)Financial jobs (April 2011)10-year raw changeDescendingRank1-year raw changeRank
Texas 575,700 620,900 622,900 47,200 1 2,000 5
North Carolina 186,300 197,000 202,400 16,100 2 5,400 2
Arizona 152,400 162,700 162,900 10,500 3 200 21
South Carolina 87,800 97,200 97,800 10,000 4 600 13
Iowa 90,800 100,800 99,700 8,900 5 -1,100 39
Nebraska 59,700 68,300 68,400 8,700 6 100 25
Utah 61,600 67,700 66,600 5,000 7 -1,100 39
Wisconsin 150,600 157,800 155,300 4,700 8 -2,500 45
Idaho 24,800 28,700 29,400 4,600 9 700 12
Missouri 159,800 162,700 163,200 3,400 10 500 17
North Dakota 17,500 20,300 20,600 3,100 11 300 18
Kentucky 82,000 86,100 85,100 3,100 11 -1,000 37
StateFinancial jobs (April 2001)Financial jobs (April 2010)Financial jobs (April 2011)10-year raw changeDescendingRank1-year raw changeRank
Montana 18,500 21,000 21,000 2,500 13 0 27
Kansas 66,500 70,800 68,500 2,000 14 -2,300 44
Wyoming 9,300 10,800 11,000 1,700 15 200 21
Minnesota 168,000 170,700 169,600 1,600 16 -1,100 39
Alaska 13,600 14,500 15,100 1,500 17 600 13
Arkansas 49,100 48,800 50,200 1,100 18 1,400 9
South Dakota 27,800 28,800 28,400 600 19 -400 33
New Mexico 33,300 32,900 33,900 600 19 1,000 10
New Hampshire 35,400 35,300 35,900 500 21 600 13
Vermont 12,900 12,100 12,400 -500 22 300 18
Oklahoma 82,300 80,000 81,600 -700 23 1,600 6
Mississippi 45,600 44,900 44,600 -1,000 24 -300 30
StateFinancial jobs (April 2001)Financial jobs (April 2010)Financial jobs (April 2011)10-year raw changeDescendingRank1-year raw changeRank
Tennessee 138,600 137,800 137,200 -1,400 25 -600 34
Rhode Island 32,000 30,400 30,100 -1,900 26 -300 30
Hawaii 28,200 26,800 26,200 -2,000 27 -600 34
Virginia 179,000 176,900 176,600 -2,400 28 -300 30
Oregon 94,500 92,700 92,100 -2,400 28 -600 34
West Virginia 30,700 28,300 28,100 -2,600 30 -200 29
Maine 35,000 31,100 31,300 -3,700 31 200 21
Delaware 47,000 42,600 42,800 -4,200 32 200 21
Louisiana 97,100 92,200 92,800 -4,300 33 600 13
District of Columbia 31,000 26,900 25,900 -5,100 34 -1,000 37
Nevada 54,700 52,700 49,200 -5,500 35 -3,500 48
Alabama 97,900 92,300 92,300 -5,600 36 0 27

StateFinancial jobs (April 2001)Financial jobs (April 2010)Financial jobs (April 2011)10-year raw changeDescendingRank1-year raw changeRank
Washington 143,400 134,500 137,100 -6,300 37 2,600 4
Maryland 147,200 142,500 140,600 -6,600 38 -1,900 43
Florida 475,000 470,100 467,300 -7,700 39 -2,800 46
Colorado 148,700 144,300 140,900 -7,800 40 -3,400 47
Connecticut 142,000 133,800 134,100 -7,900 41 300 18
New Jersey 265,500 251,000 254,400 -11,100 42 3,400 3
Indiana 143,600 129,300 130,800 -12,800 43 1,500 8
Georgia 213,300 203,500 194,700 -18,600 44 -8,800 51
Michigan 207,400 185,300 186,100 -21,300 45 800 11
Massachusetts 229,700 206,400 208,000 -21,700 46 1,600 6
Pennsylvania 338,900 310,600 310,700 -28,200 47 100 25
Ohio 305,500 274,400 273,300 -32,200 48 -1,100 39

StateFinancial jobs (April 2001)Financial jobs (April 2010)Financial jobs (April 2011)10-year raw changeDescendingRank1-year raw changeRank
Illinois 402,900 360,800 353,500 -49,400 49 -7,300 50
New York 737,700 659,400 673,300 -64,400 50 13,900 1
California 825,400 758,300 754,800 -70,600 51 -3,500 48

 


 

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