The U.S. Census Bureau has released preliminary data from the Annual Integrated Economic Survey (AIES), offering a comprehensive look at business activity across the country for 2023. The AIES replaces seven separate annual business surveys, consolidating them into one to provide national and subnational figures on revenues, expenses, and assets.
According to the new release, estimates are available for select two- and three-digit North American Industry Classification System (NAICS) industries at the national, regional, and divisional levels. These initial findings will be updated in the fall with final numbers that will include expanded industry breakdowns and more detailed geographic information.
Regional highlights from the report show variations in employment, payroll, and revenue by sector:
In the Northeast region, the Health Care and Social Assistance sector employed 5 million workers with an annual payroll of $302.4 billion. The Finance and Insurance sector reported $1.8 trillion in revenue.
For the Midwest, manufacturing jobs numbered 4 million. Retail trade brought in $1.4 trillion in revenue while educational services posted an annual payroll of $4.9 billion.
The South saw its Professional, Scientific, and Technical Services sector generate $998.4 billion in revenue during 2023. Retail trade had a payroll of $235.8 billion and employed 6.8 million people.
In the West region, there were 1.4 million employees in the Information sector. Accommodation and Food Services generated $367.1 billion in revenue with a payroll of $110.7 billion.
The Census Bureau states: “AIES data can be used to track economic trends, assess industry performance, support policy development, and inform economic planning, resource allocation, and market research.”
For those seeking further details about sampling variability or disclosure avoidance procedures related to these statistics, additional information is available through their published methodology documents.
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