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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.

Kauffmann Foundation

Financial sector exceeds pre-recession share of GDP

Posted by RJ and Makay on Dec 12, 2011

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Finance and insurance firms accounted for 8.4% of total U.S. gross domestic product (GDP) last year, according to the Commerce Department. The percentage, which eclipses the 8.3% peak hit in 2006, shows that the size of the sector has now exceeded its pre-recession level. In 1950, the financial sector represented just 2.8% of GDP.