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Investments is a small industry. Nationally about 893,740 people are employed. In Minnesota, about 19,049 people work in the industry.
This industry pays some of the highest wages of all.
In Minnesota, about average growth in the number of jobs is expected. Investor markets are still recovering from the economic downturn. Slower rates of growth are expected for some years. Some large investment firms had to cut jobs because investors became discouraged with financial markets.
The outlook depends on business activity and expanding export and import markets. It depends on communications and computer technologies that allow fewer workers to accomplish more. It depends on international relations and global trade patterns.
The outlook for investment and retirement planning depends on population levels. As baby boomers approach retirement, they demand more services to help with retirement planning.
Nationally, most jobs are in major financial centers including Los Angeles, Philadelphia, Dallas, Miami, and New York City.
New York leads for jobs in investment banking and securities dealing, securities brokerage, and portfolio management. Illinois leads in commodity contracts dealing, commodity contracts brokerage, and securities and commodity exchanges. New York is second for jobs in securities and commodity exchanges. California is second in investment advice.
Most open-end investment jobs are in Pennsylvania, Texas, and California.