The U.S. Census Bureau has released preliminary data from the Annual Integrated Economic Survey (AIES), which is intended to provide comprehensive national and regional statistics on business revenues, expenses, and assets each year. The AIES consolidates seven separate annual business surveys into one, offering a unified source for economic information that can be used by policymakers, researchers, and businesses to track trends and assess industry performance.
The initial release covers 2023 estimates at the national, regional, and divisional levels for selected industries classified under the North American Industry Classification System (NAICS). Final estimates with expanded details are expected in the fall.
According to the Census Bureau, “In 2023, in the Northeast, the Health Care and Social Assistance sector (NAICS 62) employed 5.0 million workers with a total annual payroll of $302.4 billion. The Finance and Insurance sector (NAICS 52) generated $1.8 trillion in revenue.”
For the Midwest region: “In the Midwest, there were 4.0 million Manufacturing sector (NAICS 31-33) employees; the Retail Trade sector (NAICS 44-45) generated $1.4 trillion in revenue; and the Education Services sector’s (NAICS 61) total annual payroll was $4.9 billion in 2023.”
The South reported: “In the South, the Professional, Scientific, and Technical Services sector (NAICS 54) generated $998.4 billion in revenue. The Retail Trade sector (NAICS 44-45) had an annual payroll of $235.8 billion and employed 6.8 million people in 2023.”
For western states: “In the West, there were 1.4 million employees in the Information sector (NAICS 51). The Accommodation and Food Services sector (NAICS 72) generated $367.1 billion in revenue with an annual payroll of $110.7 billion.”
More detailed information on sampling variability can be found at the AIES First Look table provided by the Census Bureau’s website: https://www.census.gov/data/tables/2023/econ/aies/first-look.html
Information about disclosure avoidance procedures is available through their methodology documentation at https://www.census.gov/programs-surveys/aies/technical-documentation/methodology.html
