1997 economic census finance and insurance subject series summary potx

Consequenty, when making ‘comparisons with prior years, users ofthe data should consider the changes In prices that have occurred, ‘ll dolar values are shown in thousands of dlrs AVA

AcRNOWLEDGMENTS |

{ets oft 1957 Economie Centar or Sen Sectr Stats Dion prepared ths report Sobby Russel sistant

Finan cans ararchy ste by Faye A Jacobs Puma tt astance Ses provides by Vanna eat Diane Carodishey Season, Sandra K

{rece Michael Carger, Andrew N

Wiliam Samples, charles Sprain, and Marlo M.Thoraton

‘sey ean A Romachall sate

‘She fr Reseach ane todotgy sited by CaS King, Chi tt {etods ranch, an Joek Rae

‘Mata Groza David Kinyo

‘The Economie Pang an Corton

pe roceeing procedures Sin A

‘Rhea arsine cnt hot aleglen sere prepares une the seervion of Dennis Shoemaker cht Cena ha {essing Sanh assed by Jon

Vide by Soma Creo, Rehard ‘Graham, sed Chery ere The 0

amie Poet Tex, win pinay cot

Jennifer E Lins, wat responsible forthe

Tạ ng aphy Dxidon sat developed Asia ting pects dt ranming Osim, Chale Pater Je, (Chet developed and carat te amt Farahush, acs hie! or nen:

fl Progra, was eon for design {ha implement fhe computers {amber nd Edward Johnson pro- Wiliam € Wester cnet Sovenr rene svistsy Rober Al, Dennis Kelly Jay Nores

fu Jeffrey 5 Rosen sapere te powdedby Donal earner, Bane! C- Cole, iver | laine, Ryan ing, Davi ler Lastrice 0 Hines, ila Lepuse, Willa McClain, Michael] Ockie, Sarah reste, {eqwatna Str ond haat A

apd Laurene ¥ Qualls of the Adina

‘Water € Odom, cht provaed tans ae png management: rapes pues sein nd capone eral

‘tere peed by Michael G Cartan, sistant het, Gary eau

———

‘Thomas Lwesenbou {erecoranie Pograms

‘Hobby € Russell

$_— Afnlstelse Expenses ir ihe Uned Siateg 7007

8“ instranoe Genet Pata Poleyralore tera Urted

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Intraduction to the EconomicCensus

[PURPOSES AND USES OF THE ECONOMIC CENSUS

‘The economic census Is the major source of fats about

the structure and functioning af the Navons economy

Provides essential information for government, business,

Industry, andthe general publi Tile 13 of the United

States Code (Sections 131,191, and 224) directs the Con

ss Bureau to take the economic census every 5 yes,

Covering yers ending n2 and 7 “The economic census furnishes an important par ofthe

framework for such composite measures asthe gross

domestic product estimates, input/output measure, pr

fucton ad price indexes, and other statisteal series that

‘measure shorter changes in economic conditions Spe

‘ie eres of economic census data include the folowing

+ Polcymaking agencies of the Federal Government use the data to monitor economic tivity and assess the

fectiveneas of pales,

tnd local governments vse the data to assess

‘business activites and tax bases within thelr juried:

tions and to develop programs to atract business,

+ Trade associations study trends in ther wn and com petingindustcies, which allows ther to Keep thelr mềm,

bers informed of market changes

+ individual businesses use the data to locate potential ‘markets and to analyze thet own production and sales

performance relative to industry or area averages

ALLNEW INDUSTRY CLASSIFICATIONS

‘ata from the 1997 Economic Census are published pr

‘manly on the basis of the North American Industry Clas

Feation system (NAICS), nike eal censuses, which

were published according tothe standard Industral Class:

Feation (SIC system NAICS isn the proces of bing

adopted in the United Sates, Canada, and Mexico, Most

economic census repons cover ane of the following NAICS

52 Finance and surance

53 —_Real state and Rental and Leasing

54 Professional, Scientific, and Teehneat

$5 Management of Comparis and Enterprises

56 Administrative and Suppor and Waste Management and Remediation Services

61 Edueatona Senices

62 71 As, nterainment and Recreation HealthCare and Social sistance

72 accommodation and Foodsenvices

BL Other Services (excep Public Administration) (ot listed above are the Agriculture, Forestry Fishing and Hurting sector (AICS 11), paraly covered by the census

of agriculture conducted by the U.S Department of Agr tre, and the Pubic Administration sector NAICS 92), Covered by the census af governments conducted by the

‘Census Bureau) “The 20 NAICS sectors are subdivide into 96 subsectors (thee-digt codes, 313 industry groups feurdigt codes, And, as implemented in the United Sates, 1170 industies (tve-ana sia codes

RELATIONSHIP To SIC Wile many ofthe incvigual NAICS industries corte spond diecty to industries as defined under the SIC sy tem, most ofthe higher evel groupings do net Parlcuar

‘are should be taken in commparing data for retail ade, ties ured in both NAICS and SI, but cover romewhat cif ferent groups of industes The industy definitions dis cass the relationships Between NAICS and SIC industries

‘Where changes ae significant, it wil ot be possible to Construct ime sree that include daa for points Both before and after 1997 For 1997, data for autlary establishments (hose func: toning primarily to manage, service, oF suppor the atv ties oftheir company’s operating establishments, such as

A central adminivative office o warehouse wil not be

Included ine sectorspectic reports, These data wil be GEOGRAPHIC AREA CODING

‘Accurate and complete laformation on the physical location ofeach establishments required to tabulate the ensus data forthe sats, metropolitan ares (MAS), coun tle, parishes, ad corporate munialtes including ce lees town, vilages, and boroughs Respondents ware

ItRooucTION +

required to repor ther physical location street adress,

‘municipality, county, an state iit fered fom dee

main address For establishments not surveyed By ail

Gane those single establishment companies that id not

provide acceptable information on physica action), ca

tion information fom internal Revenue Service tax forms

ie used as a bai for coding

‘The economic census conducted on an establishment

basis A company operating at more than one locaton it

reguired te ea separate report foreach store, factory,

‘hop, or ather lotion Each ertabishment fs asignee a

Separate industry classication based on ts primary act

Fay and not that ofits parent company

DOLLAR VALUES

‘Al dolar vals presented are expressed in current do

Jars: Le 1997 daa are expressed in 1997 dolar, and 1992 dat, in 1992 dallas Consequenty, when making

‘comparisons with prior years, users ofthe data should

consider the changes In prices that have occurred, ‘ll dolar values are shown in thousands of dlrs

AVAILABILITY OF ADDITIONAL DATA

Reports in Print and Electronic Media

AI results ofthe 1997 Economic Census are avaliable

fon te Census Breau Internet site (orrcensi gov and

fon compact sts (CD-ROM) forsale by the Census Buren

ke previous censuses, only selected highlights ae

published in printed reports For more information, Incud-

Ing a description of electronic and printed reports being

lBSuE4, se the Internet st, or write ro US Census

Bureau, Washington, OC 20233-8300, o cal Customer

Services at 301-457-4100,

Special Tabulations

Special tabulations of data collected in the 1997 Eco:

namie Census may be obtained, depending on avaliabiy

Of time and personnel, in electronica abr form The

data wil be summaries subject to the same rales oro

Ing aiclosur of confidential information (including name,

addres, kind of business, or other data fr Incviual

business estabishments or compares) nat govern the

regula publiations Special tabulations are prepared ona cost bass A

request fora cos estimate, a well ar exact specications

‘onthe type and format ofthe data tobe provide, should

be directed to the Chef of the dhsion named below, US {Census Bureau, Washington, OC 20233-8300 To discuss a

Special tabulation before submitting speciation, call

‘the aporeprate division:

Manufacturing and Construction Division

Service Sector Statistics Division HISTORICAL INFORMATION

‘The economic census has em kr 2s on interes program at 5-year intervals since 1957 and before tha lọc 1954, 1958, and 1963 Pie to that tne, indivi com, ponents of the economic census were kn sepsrately st

‘ayieg intervals ‘The economic census traces its basinninge tothe 1810 Decennal Census, when questions on manufacturing were Included with those fr population Coverage of economic actives was expanded forthe 1240 Decenial Conn And subsequent censuses to include ising and some commercial actvities, The 1905 Msnufatures Census was (he Mist timea census was ken azar rom the regular

‘decennial population census, Census covering retail and

\snoleal trade and construction insures were ain 1930, as were some covering sevice vas in 1933 Cen

‘uses of construction, maurcturing, and the cher bus ness service censuses wee suspended during Wovis War

‘The range of industries covered inthe economic con

‘uses expanded between 1967 and 1992 The census of onstruction industries began on a regular sis n 1967, and the scope of service induce, introduced in 1933,

‘as broadened in 1967, 1977, and 1907 While lew {ansporation industries were covered sear 981963,

as not unt 1992 that the cans broadened to include Allof tansporation, communication, and utes Ale new for 1992 was coverage of inal suri nd Trại exate industries ith these scons, he seanomic (Census and the separate census of goveraments ` and con fall economic activi Printed statistical reports from the 1992 an sa ec

‘censuses provide stoncl figures forte study of no term time ses and are avaliable ome args ovaries Allo the census epors printed since 1987 ae stl aval Ale forsale on microfiche fom the Con Bre {CO ROME issued from the 1987 and 1292 Econsmic Cen snes contain databases inching hori ll 39 pb lshed m ph, pls addtional statist, such 25 ZP Code stats, published ony on CD-ROM

1097 ECONOMIC CENSUS

More information about the scope, coverage, casifics

tiên system, data tems, and publications foreach of he

tconomie censuses and rated surveys is published in the

‘Gade tothe 1997 Economie Censvs and Related Staves

at woe census gov/econgulde More information onthe

‘methodelogy, procedures, and history ofthe censuses will

be published in the History ofthe 1997 Economie Censut

At we.census.gou/econ/wrw histone

ABBREVIATIONS AND SYMBOLS

‘The folowing abbreviations and symbals are used with

the 1997 Economie Census data

a °

pz

Standard error of 100 percent o° more

‘Withheld fo avoid disclosing data of individual companies data ae included in high: lvel

Exceeds 100 percent because data include

establishments with payroll exceeding re

Not avaiable oF not comparable,

Revere not collected at ths level of etal for

Represents les than 50 vehicles 05 percent

Not spaicabe Disclosure withheld because of incufclent coverage of merchandise lines

{ess than half the nit shown, v0 19 employees

2010 99 employees 100 to 249 employees

250 499 employee 500 10.999 employees, 1,000 to 2.499 emsloyees

21500 to 4.999 employees 5,000 t0 9,999 employees 10,000 to 24,089 employees 25.000 0 49,999 employees

50,000 ro 99,099 employees 100,000 employees or more

1 19 percent estimated

20 0 29 percent estimates Revie

Sampling eror exceeds 40 percent

Not elzhere classed Not specified by kind Represents zero (page image/psint on Consolidated ey

Independent cy

IMTRODUCTION 3

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Finance and Insurance

score

‘The Finance and insurance sector (sector $2) of the

1397 Economic Census comprises establishments of fms

ith payl primarily eogaged in franca ansactons

(wransactions volving the creation, liguaton, or change

In ownership of fancial sets) and/or in falitating,

‘nancial transactions Thre principal types of actives

ae dented:

1 Raising funds by taking deposits and/or issuing secu res and, inthe process, incurring lables Estab

lishoens engaged inthis activity use rased funds to

acquire fnanell assets by making leans and/or pur

‘Chasing secures Putting themselves at sk they

‘channel funds fom lenders te borrowers and Wan

form or repackage the funds with respect to maturity,

scale and isk This activity is krown as financial nt

‘mediation,

2 Pooling of isk by underwriting insurance and ann his Establishments engaged in this activity clct

fees, Insurance premiums, o annuity considerations

bul up reserves; aves those reserves and make

ontractual payments Fees are based on the expected

Incidence ofthe insured risk and the expected return

3, Providing specialized services fitting or suppor: Ing franca Intermediation, Insurance, and employee

Benet programs

In addition, monetary authorities charged with mon:

rary contol are Include in this sect The subsectors, industry groups, and industies within

‘the Finance and insurance sector are defined on the basis

lof thelr unique production processes AS with ll indus tes, the production processes are distinguished by ther

‘te of specaized human resources and specialized phy

cal capital In adltion, the way in which these estabish- ‘ments acquire and allocate nancial apital thelr source

tt funds, and the use of hose funds provides 4 tra anit

for distinguishing characteristics ofthe production pro

‘ess, For instance, the production process In aising funds

‘rough depose taking Is diferent rom the process of

‘alsing funds In bond or money markets The process of

‘making loan ta lsfkJdudks l2 requires diferent produc

ton processes than does the creation of investment pools

or the underwriting of secures Most ofthe Finance and Insurance subsectors contain

‘one or mare industy roups of (1) intermediaries with

‘the approach iso spit these instutons into components performing specialized services Ths requires defining the tints engaged in providing those series and developing procedures that allow for ther delineation For finance and Insurance, these units are the equivalents ofthe establish iments defined for other industries, “The output of many nancial services, aswell asthe inputs and the processes by which they are combined,

‘cannot be observed at a singe locaton and can only be

‘defined ata higher level ofthe organizations structure of

‘the enterprise Aditonally a numberof independent actives that represent separate and distinct production processes may take place at single location belonging to

4 ruftloeation franca fr Actives are more ike to

be hoftegeneousvịh respect to production characters ties than are locations at east in financial services The North American Industry lasifcation System NAICS) Gefines activites broadly enough that Ie can be used by those casting by location and by those employing 3 more topedvn approach tothe delineation ofthe estab lishment ‘The Finance and insurance sector has been defined to

‘encompass establshmentsprimarly engaged in financal Iransactions; that, transactions involving the creation, liquidation, or change in ownership of franca assets or

‘in focttatng Mranca wansactions Franca industries are extensive users of electronic means for acitaing the

‘erfieation of financial Balances, authorizing transactions transferring funds to and from traneactors' accounts, no fying bare rere card sere) ofthe India tans: cons, and providing dally summaries Since these tans ction processing actives ae integral to the production

‘oF finance and Insurance services, establishment that brincpaly provide a Mnancal transaction processing se

‘ice are classified to this sector rather than to the data Dracessing industry a the information sctoe Funds, trusts, and other fnancl vehicles (egal entities that old potlis of assets on behalf of ethers) ae the

ft subsector ofthe Finance and Insurance sector These

FINANCE AND INSURANCE 5

ntties earn interest, dividends, and other property

income, bt generally have lite oF ro employment and no

revenue fom the sale of services Only Real state lvest

fermen Truss, NAICS 52593, are included in the scope of

the census Separate establishments and employees

‘devoted to the management of funds are classified In Industey Group 5238, Other Financial Investment Aci

te ‘Among depostor institutions and insurance caries,

many locations with activities which might nether indus {es be considered as supporto avelar actives (such

2s headquarters operations), are Included inthis eport as

Ais of repots that provide stasis on sector 52 fob

tows

(Geographic area report There isa separate ror for

teach state the Distt of Columbia, and the United Sates

Each state report presents general statistics on number of

‘establishments, revenue payioll 2nd employment by King

‘of business forthe state and metopoltan areas (MAS) Greater ind-otbusines deta is shown fr large rea,

‘The Unwed States report presents data forthe Unites

States a8 8 whole

‘Sources of revenue report This report presents sources of evenve daa for establishments by kind of

busines Data are presented for he Unites States

Establishment and flr size (including legal form of

organization) report This fom presents revenue,

Baye, and employment data for the tinted States by rev

"nue size, by employment size, and by legal form of Oro

‘ization for establishments; and by revenve size includ

Ing concentration by largest fms, by emoloyment 2e,

find by numberof establishments operates (ingle units 2nd mutants) fr tems

Miscellaneous subjects report This report presents

data for establishments fora wacety of industry specific

‘uestons, Presentation of data varies by kind of Business

(GEOGRAPHIC AREAS COVERED

‘The level of geographic del var

ray be presented for by ceport, Data

1, The United States a8 3 whole,

2 States and the District of Columbia

3 Consolidated metropolitan statistical ae38 (CSAs) and primary metropolitan sits! reas PSAs) Sefined bythe Ofie of aagenent snd Budget (OMA) Facitate the presemation and 2oalyss of data for as of une 30,1997 & CMSA + an 3 Used to large concentrations of micopoltan popustons includes two or more comiguaus PSA wien have & Population ofa east 1,000,000 (according tothe {980 Census of Popuation or suosoauent special ce 05) nd which met specie citer of urban charac ter and of socisl 3n eanenIE 4 g/s000

A Metropolitan statistical areas 458) defines by the (OB 3s of une 30,1997 Aa MSA an integrated eco omic and social unt wit a populaisn nucleus of at feast 50,000 inhabitants according ths 1990 Cn NSA const of one or more courses meting stam dards of metropaitan arses In few Eng’ eles and towns rather than counties ate he component

‘eogrphic uns

COMPARABILITY OF THE 1992 AND 1997 CENSUSES

‘The 1997 Econamic Census the fist census to {lassication System (NAICS) Previous cans dato ware presented according tothe scars indusl Class {om (SiC) system developed sme 69 vers go, Due to this change, comparability between census years may be limited Comparative stasis wil be Incaded 25 part of the Core Gusines Saisties Reports

DISCLOSURE

In accordance with Federal law oovering sensu reports (Tie 13 ofthe Unites States Coue, no dst are Pubisbed that woud disclose the operons of an Ina Vibilestabishment or business However the nurse of {stblshments ma kind-ot busines clessifeation snot {Considered a sgclosur; therefore, ths formation may

be eleased eventhough ster information i witha AVAILABILITY OF MORE FREQUENT ECONOMIC

‘Ta Census Bureau's County Busines Pateins program offers annual statis onthe number =:taliment, femaloyment, and payell assed by indusy who

507 ECONOMG CENSUS

‘Table2 Sources of Revenue by Kind of Business for the United States: 1997—con,

‘Teblo2 Sources of Revenue by Kind of Business for the United States: 1997—con,

Tanle2 ourcee of Revenue by Kind of Business i | | { ‡ f for the United St

FINANCE & INSURANGE—SUBJEGT SERIES

12 SUMMARY

Tetie2, Sources of Revent

Tanls2 Sourees of Revenue by Kind of Business for the United States: 1997~con

‘Table2 Sources of Revenue by Kind of Business for the United States: 1997—con

Table2 Sourees o† Revenue by Kind of Business for the United States: 1987~Con

+ Tebie2, Sources of Revenue by Kind of Business for the United States: 1997—con

Tie 2 Sources of Revenue by Kind of Business for the United Slalas: 1897-~cơn

Taba2 Sources of Revenue by Kind of Business for the United States: 1997~Con

Tabis2 Sourees of Revenue by Kind of Business for the United States: 1997—con,

“Tebis2 Sourees of Revenue by Kind of Business for the United States: 1997—con

299508

SEE

&

Tebie2 Sources of Revenue by Kind of Business for the United States: 1997—con

Tabie2 Sourees of Revenue by Kind of Business for the United States: 1987—con

‘Tobie2 Sources of Revenue by Kind of Business for the United States: 1997—con

Tabo2 Sources of Revenue by Kind of Business for the United States: 1997—con

‘Table2 Sources of Revenue by Kind of Business for the United States: 1987~con