{
 "api_version": "v1",
 "data": {
  "naics": "522110",
  "label": "Commercial Banking",
  "scope": "United States",
  "operators": 82411,
  "employees": 1625804,
  "pay_per_employee_usd": 107374,
  "made_of": {
   "occupation": "Tellers",
   "share_pct": 12.97,
   "concentration_vs_economy": 59.2
  },
  "licence_gate": {
   "occupation": "Loan Officers",
   "jurisdictions_licensing": 27,
   "jurisdictions_searched": 54,
   "us_jurisdictions_total": 56,
   "exam_gated_licences": 15,
   "matched_by": "soc",
   "marginal": false
  },
  "labour": {
   "defining_occupation": "Tellers",
   "employed_nationally": 326730,
   "median_wage_usd": 39230
  },
  "licensed_occupations": [
   {
    "occ_title": "Loan Officers",
    "share_pct": 9.32,
    "ratio": 45.8,
    "defining": true,
    "states": 27,
    "licences": 70,
    "matched_by": "soc"
   },
   {
    "occ_title": "Securities, Commodities, and Financial Services Sales Agents",
    "share_pct": 10.75,
    "ratio": 41.9,
    "defining": true,
    "states": 23,
    "licences": 48,
    "matched_by": "soc"
   },
   {
    "occ_title": "Financial Managers",
    "share_pct": 5.31,
    "ratio": 10.0,
    "defining": true,
    "states": 13,
    "licences": 25,
    "matched_by": "soc"
   },
   {
    "occ_title": "Tellers",
    "share_pct": 12.97,
    "ratio": 59.2,
    "defining": true,
    "states": 10,
    "licences": 12,
    "matched_by": "soc"
   },
   {
    "occ_title": "Loan Interviewers and Clerks",
    "share_pct": 5.48,
    "ratio": 43.4,
    "defining": true,
    "states": 7,
    "licences": 9,
    "matched_by": "title"
   },
   {
    "occ_title": "General and Operations Managers",
    "share_pct": 3.15,
    "ratio": 1.3,
    "defining": false,
    "states": 23,
    "licences": 46,
    "matched_by": "soc"
   }
  ],
  "cost_structure": {
   "margin_pct": null,
   "cost_basis": null,
   "receipts_usd": 591119249000,
   "value_added_usd": null,
   "vintage": 2022,
   "read": "Margin computed by the Census Bureau as value added \u2014 receipts less the cost basis named. NULL where Census publishes no cost structure for the sector, which is most service industries; in that case use labour_share_of_receipts_pct and do NOT call it a margin."
  },
  "revenue_distribution": {
   "vintage": 2022,
   "firms": 4118,
   "labour_share_of_receipts_pct": 26.8,
   "bands": [
    {
     "band": "<100",
     "lo": 0,
     "hi": 100000,
     "firms": 53,
     "share_pct": 1.3,
     "cumulative_pct": 1.3,
     "labour_share_pct": 1274.0,
     "adjusted": true
    },
    {
     "band": "100-499",
     "lo": 100000,
     "hi": 499000,
     "firms": 67,
     "share_pct": 1.6,
     "cumulative_pct": 2.9,
     "labour_share_pct": 49.6,
     "adjusted": true
    },
    {
     "band": "500-999",
     "lo": 500000,
     "hi": 999000,
     "firms": 72,
     "share_pct": 1.7,
     "cumulative_pct": 4.7,
     "labour_share_pct": 41.6,
     "adjusted": true
    },
    {
     "band": "1,000-2,499",
     "lo": 1000000,
     "hi": 2499000,
     "firms": 276,
     "share_pct": 6.7,
     "cumulative_pct": 11.4,
     "labour_share_pct": 31.0,
     "adjusted": true
    },
    {
     "band": "2,500-4,999",
     "lo": 2500000,
     "hi": 4999000,
     "firms": 478,
     "share_pct": 11.6,
     "cumulative_pct": 23.0,
     "labour_share_pct": 29.6,
     "adjusted": true
    },
    {
     "band": "5,000-7,499",
     "lo": 5000000,
     "hi": 7499000,
     "firms": 420,
     "share_pct": 10.2,
     "cumulative_pct": 33.2,
     "labour_share_pct": 28.2,
     "adjusted": true
    },
    {
     "band": "7,500-9,999",
     "lo": 7500000,
     "hi": 9999000,
     "firms": 312,
     "share_pct": 7.6,
     "cumulative_pct": 40.7,
     "labour_share_pct": 28.1,
     "adjusted": true
    },
    {
     "band": "10,000-14,999",
     "lo": 10000000,
     "hi": 14999000,
     "firms": 499,
     "share_pct": 12.1,
     "cumulative_pct": 52.9,
     "labour_share_pct": 27.2,
     "adjusted": true
    },
    {
     "band": "15,000-19,999",
     "lo": 15000000,
     "hi": 19999000,
     "firms": 327,
     "share_pct": 7.9,
     "cumulative_pct": 60.8,
     "labour_share_pct": 26.5,
     "adjusted": true
    },
    {
     "band": "20,000-24,999",
     "lo": 20000000,
     "hi": 24999000,
     "firms": 240,
     "share_pct": 5.8,
     "cumulative_pct": 66.6,
     "labour_share_pct": 26.9,
     "adjusted": true
    },
    {
     "band": "25,000-29,999",
     "lo": 25000000,
     "hi": 29999000,
     "firms": 168,
     "share_pct": 4.1,
     "cumulative_pct": 70.7,
     "labour_share_pct": 26.0,
     "adjusted": true
    },
    {
     "band": "30,000-34,999",
     "lo": 30000000,
     "hi": 34999000,
     "firms": 122,
     "share_pct": 3.0,
     "cumulative_pct": 73.7,
     "labour_share_pct": 26.3,
     "adjusted": true
    },
    {
     "band": "35,000-39,999",
     "lo": 35000000,
     "hi": 39999000,
     "firms": 108,
     "share_pct": 2.6,
     "cumulative_pct": 76.3,
     "labour_share_pct": 26.1,
     "adjusted": true
    },
    {
     "band": "40,000-49,999",
     "lo": 40000000,
     "hi": 49999000,
     "firms": 143,
     "share_pct": 3.5,
     "cumulative_pct": 79.8,
     "labour_share_pct": 27.2,
     "adjusted": true
    },
    {
     "band": "50,000-74,999",
     "lo": 50000000,
     "hi": 74999000,
     "firms": 206,
     "share_pct": 5.0,
     "cumulative_pct": 84.8,
     "labour_share_pct": 25.1,
     "adjusted": true
    },
    {
     "band": "75,000-99,999",
     "lo": 75000000,
     "hi": 99999000,
     "firms": 122,
     "share_pct": 3.0,
     "cumulative_pct": 87.7,
     "labour_share_pct": 24.7,
     "adjusted": true
    },
    {
     "band": "100,000+",
     "lo": 100000000,
     "hi": null,
     "firms": 505,
     "share_pct": 12.3,
     "cumulative_pct": 100.0,
     "labour_share_pct": 26.9,
     "adjusted": true
    }
   ],
   "read": "Firms by RECEIPT SIZE. Labour share is payroll over receipts \u2014 not gross margin, which cannot be derived because Census publishes no cost of goods. Enterprise-level: a firm is counted once at its total size, not per location."
  },
  "standing": {
   "naics4": "5221",
   "percentile": 20,
   "peers": 287,
   "years": [
    2019,
    2023
   ],
   "net_formation_pct": -1.45,
   "band": "dying faster than it is forming",
   "calibration": {
    "rho": 0.57,
    "windows": 4,
    "separation_pp": 42.6
   },
   "read": "Among 287 industries, this one sits at the 20th percentile on net establishment formation over 2019-2023 \u2014 it is dying faster than it is forming. That signal carries a measured rank correlation of 0.57 with the following decade's growth across 4 backtested windows, separating top and bottom deciles by 42.6 percentage points. It describes the INDUSTRY, not a business in it, and it was calibrated against establishment growth rather than returns to an operator."
  },
  "rubric_coverage": {
   "covered": 65,
   "total": 100,
   "partial": 25,
   "absent": 10,
   "rubric": "O1.0-20260804"
  },
  "dimensions": [
   {
    "code": "O1",
    "weight": 25,
    "status": "evidenced",
    "predictive": "predictive",
    "evidence": "82,411 operators employing 1,625,804 people across 2,782 counted areas",
    "source": "US Census County Business Patterns"
   },
   {
    "code": "O2",
    "weight": 15,
    "status": "partial",
    "predictive": "not backtested",
    "evidence": "$1,773,687,007 in federal awards to 24 distinct recipients, largest buyer Department of Education. That is ONE buyer \u2014 federal procurement \u2014 not the private market, so it evidences that this work is paid for at scale, not what a private customer pays.",
    "source": "USASpending.gov \u2014 US federal government work, public domain"
   },
   {
    "code": "O3",
    "weight": 15,
    "status": "evidenced",
    "predictive": "not backtested",
    "evidence": "Tellers \u2014 12.97% of employment here, 59.2\u00d7 its share across the whole economy \u2014 is licensed in 27 jurisdictions, 15 of those licences exam-gated. Matched on SOC 13-2072.",
    "source": "CareerOneStop / ARC, U.S. Department of Labor"
   },
   {
    "code": "O4",
    "weight": 15,
    "status": "evidenced",
    "predictive": "not backtested",
    "evidence": "326,730 Tellers employed nationally at a $39,230 median wage",
    "source": "BLS Occupational Employment and Wage Statistics, May 2024"
   },
   {
    "code": "O5",
    "weight": 10,
    "status": "no producer",
    "predictive": "not backtested",
    "evidence": "Per-operator enforcement records exist for some jurisdictions but are not loaded against industries, only against named businesses.",
    "source": "none"
   },
   {
    "code": "O6",
    "weight": 10,
    "status": "partial",
    "predictive": "not backtested",
    "evidence": "Payroll is 26.8% of receipts industry-wide, across 4,118 firms. It falls from 1274.0% in the smallest revenue band to 26.9% in the largest, which is the scale effect an operator is buying. This is LABOUR SHARE, not margin \u2014 Census publishes no cost of goods, so gross margin remains underivable and is not claimed. It is the largest single cost line in most service businesses and the first one a buyer tests against the seller's numbers.",
    "source": "US Census Statistics of U.S. Businesses 2022"
   },
   {
    "code": "O7",
    "weight": 10,
    "status": "evidenced",
    "predictive": "DESCRIPTIVE ONLY",
    "evidence": "12.07 establishments per firm in 2023 across 8,926 firms and 107,749 establishments: genuinely multi-site \u2014 firms in this industry routinely run many locations. 273 firms closed entirely that year, an establishment exit rate of 4.963%.",
    "source": "US Census Business Dynamics Statistics \u2014 public domain"
   }
  ]
 },
 "sources": [
  "US Census CBP 2023",
  "BLS OEWS 2024",
  "CareerOneStop licence register 2024",
  "Census BDS 1978-2023",
  "USASpending 2021-2025"
 ],
 "gaps": [
  "licence titles in this scope \u2014 none matched 'Tellers', though it is licensed in 27 jurisdictions nationally. The title differs locally, or the record is held municipally.",
  "occupation mix for NAICS 522110 \u2014 the labour statistics carry no rows at this level, so everything about occupations here, including the defining occupation and its licence gate, is measured at NAICS 522000, a broader grouping. Establishment counts are for 522110 itself.",
  "licence coverage \u2014 the register holds 54 of 56 US licensing jurisdictions, and 2,504 of its records carry no jurisdiction at all. A count of 27 is out of 54 searched, not out of 56. The unsearched jurisdictions are not evidence of no licence.",
  "bonding_required_usd \u2014 no producer, and not estimated"
 ],
 "licence": {
  "federal_public_domain": "US Census, BLS and USASpending figures are works of the United States Government, public domain under 17 U.S.C. 105. Freely usable, redistributable and resaleable.",
  "occupational_licences": "Licence data derives from CareerOneStop, sponsored by the US Department of Labor, ETA. Supplied on condition it remains publicly available at no cost and without a log-in.",
  "our_analysis": "Rubrics, scoring, backtests and written analysis are 8th Wave Media LLC. The facts underneath them are not.",
  "not_advice": "Research against public records. Not investment, legal, tax or accounting advice, and no figure here is a prediction about your business."
 },
 "attribution": "RootOptics \u2014 ro.8thwavemedia.com"
}