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Finance,
Insurance, & Real Estate
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Executive Summary of the Division
“Finance includes depository institutions, nondepository credit institutions, holding (but not predominantly operating) companies, other investment companies, brokers and dealers in securities and commodity contracts, and security and commodity exchanges. Insurance covers carriers of all types of insurance, and insurance agents and brokers. Real Estate includes owners, lessors, lessees, buyers, sellers, agents, and developers of real estate.”
(1987 Standard Industrial Classification Manual Pg. 335)
The Major Groups of FIRE
- Depository Institutions (SIC 60)
- Nondepository Credit Institutions (SIC 61)
- Security and Commodity Brokers, Dealers, Exchanges, and Services (SIC 62)
- Insurance Carriers (SIC 63)
- Insurance Agents, Brokers, and Service (SIC 64)
- Real Estate (SIC 65)
- Holding and Other Investment Offices (SIC 67)
Wyoming Covered Employment
The Finance, Insurance, & Real Estate industry is one of the smallest employing industries in Wyoming. The entire industry employs just under 8,000 individuals. Depository Institutions (SIC 60), which includes Banks, Savings Institutions, and Credit Unions, employs almost 40 percent of the employees in this industry. Real Estate (SIC 65) also is a major employer with almost 2,000 employees throughout the state. SICs 63 and 64 are also relatively large employers within the Finance, Insurance, & Real Estate industry.
The Top Employing Occupations within Finance,
Insurance, & Real Estate
| |
Employment |
Wages |
| Occupational Title |
Base 1996 |
Projected 2006 |
Entry |
Skilled |
| 53102 Bank Tellers |
765 |
703 |
$6.37 |
$7.94 |
| 19005 General Managers & Top Execs |
581 |
646 |
12.05 |
27.46 |
| 21108 Loan Officers & Counselors |
429 |
459 |
9.74 |
16.69 |
| 55108 Secretaries Ex Legal or Med |
405 |
363 |
7.10 |
10.65 |
| 55338 Bookkpng, Accntng, Audit Clerks |
392 |
348 |
6.92 |
10.92 |
| 53314 Insurance Policy Process Clerks |
320 |
325 |
N/A |
N/A |
| 55305 Reception/Information Clerks |
300 |
363 |
6.29 |
8.46 |
| 85132 Maintenance Repairers, Gen Utility |
294 |
363 |
6.84 |
12.72 |
| 51002 Clerical Supervisors |
291 |
313 |
8.86 |
16.70 |
| 13002 Financial Managers |
290 |
305 |
15.39 |
31.70 |
| 43002 Insurance Sales Workers |
290 |
332 |
N/A |
N/A |
| 53121 Loan & Credit Clerks |
283 |
260 |
6.49 |
8.32 |
| 55347 General Office Clerks |
281 |
277 |
5.62 |
9.03 |
| 59999 Clerical/Admin Wkrs, NEC |
232 |
307 |
8.19 |
10.79 |
| 53105 New Accts Clerks, Banking |
214 |
201 |
6.23 |
9.14 |
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The majority of the top 15 employing occupations within the FIRE industry will increase modestly. FIRE as a whole is anticipated to increase 5.6 percent by the year 2006. All of the major groups in this industry are expected to increase with the exception of Depository Institutions (SIC 60). The above table shows that Secretaries and Clerks are expected to decrease by the year 2006. The decrease is due to technological advances and the automation of jobs. The majority of skilled wages are over $10/hour, but there are only a couple of occupations that have beginning wages above $10/hour in the top 15 occupations for this industry.
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