FDIC Report

The Federal Deposit Insurance Corporation (FDIC) recently released its third quarter of 2009 Quarterly Banking Profile detailing a host of statistics on the banks under its jurisdiction. This report has been well covered, but one part I wanted to highlight was the section on the number of employees at the FDIC.

The number of employees has moved up from 4,476 in September 2006 to 6,298 as of September 2009. While this might seem like a lot, the total number of employees peaked at 22,586 in September 1991, during our previous banking crisis.

The point is that either current employees are much more efficient than they used to be back in the early 1990's, or the FDIC may be one of the few agencies to be adding jobs to the economy over the next few years. Just something to think about.