Nowadays, Economy of the United States by sector has become a topic of general interest that covers a wide variety of aspects and its implications have achieved a significant impact on society. From its influence on popular culture to its relevance in the field of science and technology, Economy of the United States by sector has generated constant debate and has sparked the interest of people of all ages and backgrounds. In this article, we will explore different facets of Economy of the United States by sector and analyze its importance in various contexts, providing a comprehensive overview that will allow readers to understand its relevance and possible consequences in today's world.
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The economy of the United States is divided into economic sectors. The North American Industry Classification System (NAICS) was developed in 1997 and is used by the United States Census Bureau and U.S. Securities Exchange Commission (SEC).
The United States Census Bureau currently conducts a comprehensive Economic Census every five years. The results of this survey are tabulated according to the NAICS and provide statistics about the U.S. economy. The most recent data are from 2007. The 2012 Economic Census is underway with the initial results to be available in December 2013.
The Census Bureau releases sector-by-sector statistics on the number of establishments, total business activity, annual payroll, and number of paid employees. A standardized classification of the economy into sectors makes it possible to compare census results over time. However, to reflect the evolving nature of the economy, the NAICS is updated every five years. Therefore, when comparing different censuses, a particular NAICS basis is usually specified. The following data are based on a comparison of the 2007 and 2002 censuses using the 2002 NAICS basis and an older comparison of the 1997 and 2002 censuses using the older 1997 NAICS basis. Thus, (*) the 1997 data are based on a slightly different classification than the 2007 and 2002 data.
Sector | Establishments | Sales, receipts, or shipments ($1,000) |
Annual payroll ($1,000) |
Paid employees |
---|---|---|---|---|
Mining | 24,087 | 182,911,093 | 21,173,895 | 477,840 |
Utilities | 17,103 | 398,907,044 | 42,417,830 | 663,044 |
Construction | 710,307 | 1,196,555,587 | 254,292,144 | 7,193,069 |
Manufacturing | 350,828 | 3,916,136,712 | 576,170,541 | 14,699,536 |
Wholesale trade | 435,521 | 4,634,755,112 | 259,653,080 | 5,878,405 |
Retail trade | 1,114,637 | 3,056,421,997 | 302,113,581 | 14,647,675 |
Transportation & warehousing | 199,618 | 382,152,040 | 115,988,733 | 3,650,859 |
Information | 137,678 | 891,845,956 | 194,670,163 | 3,736,061 |
Finance & insurance | 440,268 | 2,803,854,868 | 377,790,172 | 6,578,817 |
Real estate & rental & leasing | 322,815 | 335,587,706 | 60,222,584 | 1,948,657 |
Professional, scientific, & technical services | 771,305 | 886,801,038 | 376,090,052 | 7,243,505 |
Management of companies & enterprises | 49,308 | 107,064,264 | 178,996,060 | 2,605,292 |
Administrative & support & waste management & remediation service | 350,583 | 432,577,580 | 206,439,329 | 8,741,854 |
Educational services | 49,319 | 30,690,707 | 10,164,378 | 430,164 |
Health care & social assistance | 704,526 | 1,207,299,734 | 495,845,829 | 15,052,255 |
Arts, entertainment, & recreation | 110,313 | 141,904,109 | 45,169,117 | 1,848,674 |
Accommodation & food services | 565,590 | 449,498,718 | 127,554,483 | 10,120,951 |
Other services (except public administration) | 537,576 | 307,049,461 | 82,954,939 | 3,475,310 |
Totals | 6,891,382 | 21,362,013,726 | 3,727,706,910 | 108,991,968 |