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Economic Commentary

Where Have All the Tellers Gone?

Even in the rapidly expanding U.S. economy, the rising GDP tide has not been able to lift all boats. Some industries continue to contract as aggregate production bounds ahead. Other businesses are trimming their payrolls, but their production levels are picking up. The latter describes the banking industry, where employment has dropped considerably in the last decade, yet the industry as a whole has experienced strong growth.

The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. The series editor is Tasia Hane. This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. This paper and its data are subject to revision; please visit for updates.

Suggested Citation

Craig, Ben R. 1997. “Where Have All the Tellers Gone?” Federal Reserve Bank of Cleveland, Economic Commentary 4/15/1997.