The U.S. Census Bureau has released preliminary data from the Annual Integrated Economic Survey (AIES), providing annual national and subnational figures on business revenues, expenses, and assets. The AIES replaces seven previous annual business surveys with a single integrated survey. The new data allows tracking of economic trends, assessment of industry performance, policy development, and market research.
The 2023 estimates are available at national, regional, and divisional levels for select industries classified by the North American Industry Classification System (NAICS). Final estimates with expanded detail are expected in the fall.
In the Northeast region for 2023, 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, manufacturing employed 4 million people; retail trade generated $1.4 trillion in revenue; and education services reported an annual payroll of $4.9 billion.
In the South, professional, scientific, and technical services generated $998.4 billion in revenue while retail trade had an annual payroll of $235.8 billion and employed 6.8 million people.
The West region saw 1.4 million employees in information services; accommodation and food services generated $367.1 billion in revenue with an annual payroll of $110.7 billion.
According to the Census Bureau: “The AIES is one of the Census Bureau’s newest surveys, designed to replace and integrate seven different annual business surveys into a single survey.” It also stated: “AIES data can be used to track economic trends, assess industry performance, support policy development, and inform economic planning, resource allocation, and market research.”
More information about sampling variability measures is available through the AIES First Look table online at https://www.census.gov/data/tables/2023/econ/aies/first-look.html , while details about disclosure avoidance procedures are published within its methodology documentation at https://www.census.gov/programs-surveys/aies/technical-documentation/methodology.html .
Final results will provide more detailed statistics later this year.
