[] [] []

Finance Insurance and Real Estate




 Average annual employment increased by 4.8% or 5,257 jobs from 1995. Total wages increased by 12.1% for the year with the average wage approaching $36,000 per year. Two-thirds of FIRE employment was in the Denver Metro area.

 Banks continued to consolidate in 1996. There were 45 fewer establishments classified in banking than the previous year. Employment in this sector increased by a modest 404 jobs or 1.6%. Average wages in the banking industry increased by 8.2%.

 The Nondepository Credit Institutions sector experienced the largest percentage increase in employment at 11.1%. There were 105 more establishments in 1996 than the previous year with total employment increasing by 1,178 to 11,789. The average annual wage in this sector increased by $2,427 to $40,771.

 The Security and Commodity sector’s increases reflected the strength of the financial markets. Employment increased by 701 to reach 9,003. Total wages increased by 15.8%, totaling $581 million. The average wage increased 6.75% reaching $64,560 per year. The number of establishments increased by 61 to average 800 in 1996.

 The Insurance Carrier sector also recorded increases in employment, wages and establishments. Employment increased by 1,419 to reach 22,918. Total wages increased by 12.9%, totaling $897 million in 1996. The number of establishments increased by 35 to average 971 for the year. The Insurance Agents sector added 680 jobs and wages increased by 8.2%. There were an average of 2,348 establishments and 10,236 employees classified as Insurance Agents in 1996.

 Real Estate employment increased by 3.3% to 29,466. The average wage increased from $22,967 to $24,544, a 6.9% increase. Employment in Land Subdividors and developers declined by 167 to 1,683 with average wages declining 4.2% to 33,661. Employment in Real Estate Operators and Lessors increased by 1% to 10,229 and wages increased by 10.6% to 19,876. Real Estate Agents and Brokers employment increased by 658 to 16,825.

 Holding and Investment was the only category to decline from the previous year. The sector’s employment declined by 66 to an average of 5,497. The number of establishments increased by 39 to 513 and the average wage increased by 2.7% to $62,399.


[00e.bmp]


 19921993199419951996
Average Employment98,197104,393108,470109,304114,561
Total Wages$2,947,313,853$3,341,557,859$3,439,624,683$3,676,364,277$4,120,674,259
Percent of Total Emp.6.22%6.31%6.24%6.03%6.11%
Percent of Total Wages7.45%7.87%7.56%7.48%7.71%