The Business and Financial Services industry cluster makes up five percent of regional jobs in Southwestern Pennsylvania (SWPA). From 2002 to 2007, this cluster has grown by 2.5% and is projected to grow another 8% by 2017. It has the 5th largest annual payroll ($5,231,415K), the second highest sales ($19,811,415K), and has an average annual wage of $67,000. The industry is also more concentrated in the SWPA region than the nation with a location quotient of 1.07. Quantitative facts alone show the importance of this industry to SWPA. Currently, one out of every seven jobs is considered to be in this industry cluster. In addition to the large number of jobs, this industry cluster also has an average wage that is 20 percent above the region’s average wage.
The Financial Services Industry Partnership places emphasis on identifying the industry needs in the region With the turmoil of the sector it will be important to determine how the region’s needs differ from the statewide impact of the financial sector meltdown and how this partnership can begin to address some of those issues.
In the Tri-County region, high priority occupations in this industry include:
- Customer Service Representatives
- Office Clerks
- General & Operations Managers
- Accountants & Auditors
- Executive Secretaries & Administrative Assistants
- Supervisors - Office & Administrative Support Workers
- Legal Secretaries
- Receptionists & Information Clerks
- Financial Managers