The securities, commodities, and other investments industry employed 801,000 wage and salary workers in 2002. An additional 95,000 workers were self-employed. With their extensive networks of retail sales representatives located in branch offices throughout the country, the large nationally known brokerage companies operate the majority of establishments in this industry. Over 90 percent of the establishments in the industry employ fewer than 20 workers (chart). However, about half of the industry's jobs are in the headquarters of many of these firms—where most executives and administrative support personnel are employed—many of which are located in the New York City area. Many people also work for mutual-fund management companies and smaller regional brokerage firms. As a consequence of deregulation, banks have been either acquiring securities firms or adding securities and commodities business to their list of services, hence becoming a factor in the industry. A relatively small number of employees work at securities or commodities exchanges—primarily the NYSE, the Chicago Board of Trade, the CME, and a number of regional exchanges.
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