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1 The Economic Census and NAICS The Economic Census and NAICS in 30 minutes or less: in 30 minutes or less: John Medina, EPCD
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The Economic Census and NAICSThe Economic Census and NAICSin 30 minutes or less:in 30 minutes or less:
John Medina, EPCD
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The Economic Census and NAICS The Economic Census and NAICS in 30 minutes or less:in 30 minutes or less:
How People Use the Economic Census
Industry Classification: What is NAICS?Find a NAICS code in 4 easy steps
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How People Use the Economic Census
Industry Classification: What is NAICS?Find a NAICS code in 4 easy steps
The Economic Census and NAICSThe Economic Census and NAICSin 30 minutes or less:in 30 minutes or less:
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Many of the Federal government statistics about business come from the Census Bureau
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• Detailed information on the structure of the
economy
- What industries exist
- Where they are located
- What inputs they consume
- What outputs they produce
- What markets they serve
• Every 5 years
• Foundation of most economic statistics
What is the Economic Census ?
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Not covered
Governments
AgricultureConstruction
MiningManufacturing
Transp, Utilities
Wholesale
Retail
Finance, Insurance, Real Estate
Service
Censuses Cover 98% of the Economy
Sector contribution to GDP:Economic Census – 85%Agriculture and Government – 13%
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--Ben Bernanke, Chairman, Federal Reserve Board of Governors
“The Economic Census is indispensable to understanding America’s economy…”
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What are the data used for?
Public SectorPublic Sector
•Key measures of the economy
•Support economic policy
Private SectorPrivate Sector • Study industries• Study business markets• Evaluate investment opportunities
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Public SectorPublic Sector Uses of theUses of theEconomic CensusEconomic Census
• Benchmark other statistics and surveys
• Track economic change
• Attract new businesses
• Assist business development
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“Sound and timely economic
data are the fuel that powers
business decision making…”
--Thomas J. Donohue, President,
United States Chamber of Commerce
CCensus data -not just for government use…
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Private SectorPrivate Sector Uses of the Uses of the Economic CensusEconomic Census
1. Study your industryMarket shareProduct trendsStrategic planning
What’s my share?
How does my firm compare?
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Private SectorPrivate Sector Uses of the Uses of the Economic CensusEconomic Census
1. Study your industryMarket shareProduct trendsStrategic planning
2. Study business markets
Site locationsSales territoriesForecasting salesWhere are my
customers? suppliers?
competitors?
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Private SectorPrivate Sector Uses of the Uses of the Economic CensusEconomic Census
1. Study your industryMarket shareProduct trendsStrategic planning
2. Study business marketsSite locationsSales territoriesForecasting sales
3. Evaluate investments
Estimate market sizeData for loan applications
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Surveys vs CensusSurveys vs Census
Economic Surveys
•Annual, quarterly, monthly
•Limited detail
•Mostly national
Economic Census
•Every 5 years (years ending in 2 & 7)
•Industry/product detail
•Detailed Geography
Principal Economic
Indicators…
Data more frequent than annual
Economic Briefing Room
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How People Use the Economic Census
Industry Classification: What is NAICS?
Find a NAICS code in 4 easy steps
The Economic Census and NAICSThe Economic Census and NAICSin 30 minutes or less:in 30 minutes or less:
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Industry Classification:
What is NAICS?
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NAICSNAICS
NorthAmericanIndustryClassificationSystem
NAICS superseded SIC in 1997
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New Numbering SystemNew Numbering System
DescriptionCodeLevelInformation51Sector
Broadcasting (except Internet)515Subsector
Radio and Television Broadcasting5151Industry Group
Radio Broadcasting51511Industry
Radio Stations515112U.S. Industry
NAICS codes are hierarchic
An establishment is a
store, warehouse, factory, etc.
at a single physical location
We assign industry codes to We assign industry codes to establishmentsestablishments
What is a What is a companycompany??
One or more establishments
under common ownership or control
More information More information about NAICS? about NAICS?
Definition for each industryDefinition for each industry
Alphabetic indexAlphabetic index
Correspondence tablesCorrespondence tables
2002 Edition
•NAICS 02 to NAICS 97
•NAICS 97 to NAICS 02
1997 Edition
•NAICS 97 to SIC
•SIC to NAICS 97
In print and at www.census.gov
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The Economic Census and NAICS The Economic Census and NAICS in 30 minutes or less:in 30 minutes or less:
How People Use the Economic Census
Industry Classification: What is NAICS?
Find a NAICS code in 4 easy steps
2. Enter keyword
www.census.gov/naics
3. Select an industry from the search results
4. Confirm selection with industry definition
