Bureau reports nearly 8.5% reduction in workforce for FY 2018

A contraction in workforce of nearly 8.5% at the federal consumer financial protection agency – translating to 139 employees – at the end of the last fiscal year is reported in a status report made public by the agency Tuesday.

The Consumer Financial Protection Bureau (CFPB) said in its Equal Employment Opportunity (EEO) program status report for fiscal year (FY) 2018 that it ended the last fiscal year with 1,504 employees, down 139 from the same period a year previously.

Demographics outlined in the report indicate that the decline in workforce came primarily among white, female workers, whose numbers declined by 51 positions, or just under 37% of all positions that went away. Positions held by white men made up the second largest group to go away, with 44 positions (about 32% of the total of positions eliminated).

Overall, white workers male and female make up the majority of those employed by the agency, according to the report, at just more than 60% (for 908 at the end of FY18).

However, CFPB noted that the male workforce at the agency, overall, decreased slightly last fiscal year, from 51.25% of the total workforce at the end of FY 2017 to 51.1% at the end of FY 2018. The female workforce, the agency noted, actually expanded in the last fiscal year, from 48.75% to 48.9% at the end of FY19.

The agency also noted that the female workforce is now slightly higher than the U.S. Census Civilian National Labor Force (CLF), a benchmark the agency used to gauge its workforce distribution. According the CFPB, the CLF “availability” was 48.14% at the end of the last fiscal year.

CFPB Equal Employment Opportunity (EEO) program status report for fiscal year (FY) 2018