New York City, NY, may be the financial capital of the U.S., but it’s not No. 1 in terms of employment growth in the financial sector. That title belongs to Greenville, SC.
Data from the U.S. Bureau of Labor Statistics shows that from 2009 through 2013, the Greenville metro area saw the biggest rise — 19.7 percent — in the number of people employed in the financial sector among the 100 largest U.S. metro areas. Segments under the financial umbrella include banking, real estate and insurance.
By the way, the New York metro area actually experienced a 3.9 percent drop in the number of people employed in the financial sector in 2013 compared with 2009. Nearly 872,000 people worked in the Big Apple’s financial sector in 2013.
Here’s our ranking of the 10 metro areas that witnessed the biggest jump in employment in the financial sector from 2009 through 2013. If you’re angling to move to a place where the financial sector is showing signs of strength, let this list serve as a barometer.
1. Greenville, SC
Number of people employed in financial sector in 2009: 14,769
Number of people employed in financial sector in 2013: 17,684
5-year growth rate: 19.7%
Major financial employers: TD Bank, BB&T
Population rank among top 100 metro areas: 63
2. McAllen, TX
Number of people employed in financial sector in 2009: 10,767
Number of people employed in financial sector in 2013: 11,917
5-year growth rate: 10.7%
Major financial employers: BBVA Compass, IBC Bank
Population rank among top 100 metro areas: 68
3. Winston-Salem, NC
Number of people employed in financial sector in 2009: 15,824
Number of people employed in financial sector in 2013: 17,351
5-year growth rate: 9.6%
Major financial employers: Wells Fargo, BB&T, National General Insurance, Blue Cross & Blue Shield of North Carolina
Population rank among top 100 metro areas: 83
4. Charlotte, NC
Number of people employed in financial sector in 2009: 93,915
Number of people employed in financial sector in 2013: 102,861
5-year growth rate: 9.5%
Major financial employers: Wells Fargo, Bank of America, TIAA-CREF, BB&T
Population rank among top 100 metro areas: 22
5. El Paso, TX
Number of people employed in financial sector in 2009: 14,325
Number of people employed in financial sector in 2013: 15,584
5-year growth rate: 8.8%
Major financial employers: Fred Loya Insurance, WestStar Bank
Population rank among top 100 metro areas: 67
6. Grand Rapids, MI
Number of people employed in financial sector in 2009: 23,961
Number of people employed in financial sector in 2013: 25,839
5-year growth rate: 7.8%
Major financial employers: Farmers Insurance, Fifth Third Bank
Population rank among top 100 metro areas: 52
7. Daytona Beach, FL
Number of people employed in financial sector in 2009: 14,542
Number of people employed in financial sector in 2013: 15,433
5-year growth rate: 6.1%
Major financial employers: Florida Health Care Plans, Brown & Brown
Population rank among top 100 metro areas: 90
8. San Antonio, TX
Number of people employed in financial sector in 2009: 80,738
Number of people employed in financial sector in 2013: 85,479
5-year growth rate: 5.9%
Major financial employers: USAA, Frost Bank, JPMorgan Chase, Wells Fargo
Population rank among top 100 metro areas: 25
9. Dallas-Fort Worth, TX
Number of people employed in financial sector in 2009: 268,737
Number of people employed in financial sector in 2013: 283,494
5-year growth rate: 5.5%
Major financial employers: Bank of America, JPMorgan Chase, Citigroup
Population rank among top 100 metro areas: 4
10. Austin, TX
Number of people employed in financial sector in 2009: 59,418
Number of people employed in financial sector in 2013: 62,642
5-year growth rate: 5.4%
Major financial employers: Keller Williams Realty, Progressive Corp., State Farm, Wells Fargo
Population rank among top 100 metro areas: 35
Data sources
U.S. Bureau of Labor Statistics, Greenville Area Development Corp., McAllen Economic Development Corp., Winston-Salem Chamber of Commerce, Charlotte Chamber of Commerce, El Paso Times, Texas Department of Banking, The Right Place, Team Volusia Economic Development Corp., Florida Trend, San Antonio Economic Development Foundation, DestinationDFW, Dallas Office of Economic Development, Austin Chamber of Commerce
Data analysis by Elizabeth Whalen
