The U.S. Census Bureau has released preliminary data from the Annual Integrated Economic Survey (AIES), offering national and regional insights into business revenues, expenses, and assets for 2023. The AIES consolidates seven previous annual business surveys into a single instrument, aiming to streamline data collection and provide comprehensive economic measures each year.
According to the Census Bureau, “Today’s estimates, based on 2023 data, are available at the national, regional and divisional levels for select two- and three-digit North American Industry Classification System (NAICS) industries. The preliminary estimates included in today’s release are scheduled to be replaced in the fall with final estimates that include expanded industry detail, additional statistics, and more detailed geographic data for select sectors.”
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 generated $1.8 trillion in revenue.
For the Midwest, there were 4 million employees in Manufacturing; Retail Trade brought in $1.4 trillion in revenue; Education Services had a total annual payroll of $4.9 billion.
In the South region, Professional, Scientific, and Technical Services produced $998.4 billion in revenue. Retail Trade had an annual payroll of $235.8 billion with 6.8 million employees.
The West reported 1.4 million employees in Information services while Accommodation and Food Services generated $367.1 billion in revenue with an annual payroll of $110.7 billion.
As stated by the Census Bureau: “AIES data can be used to track economic trends, assess industry performance, support policy development, and inform economic planning, resource allocation, and market research.”
Further details on sampling variability are available through the AIES First Look table as well as information about disclosure avoidance procedures outlined in the survey’s methodology.
