To install click the Add extension button. That's it.

The source code for the WIKI 2 extension is being checked by specialists of the Mozilla Foundation, Google, and Apple. You could also do it yourself at any point in time.

4,5
Kelly Slayton
Congratulations on this excellent venture… what a great idea!
Alexander Grigorievskiy
I use WIKI 2 every day and almost forgot how the original Wikipedia looks like.
Live Statistics
English Articles
Improved in 24 Hours
Added in 24 Hours
What we do. Every page goes through several hundred of perfecting techniques; in live mode. Quite the same Wikipedia. Just better.
.
Leo
Newton
Brights
Milds

Economy of the United States by sector

From Wikipedia, the free encyclopedia

The economy of the United States has been divided into economic sectors in different ways by different organizations. The North American Industry Classification System (NAICS) was developed in 1997 and is used by the United States Census Bureau, while the and Exchange Commission]] (SEC).

YouTube Encyclopedic

  • 1/5
    Views:
    615 741
    1 844 165
    1 321 157
    281 511
    503 328
  • How Does German Economy Compare to United States Economy?
  • The Industrial Economy: Crash Course US History #23
  • Why Is America So Rich?
  • Market Economy: Crash Course Government and Politics #46
  • The Economics of Healthcare: Crash Course Econ #29

Transcription

Some of our viewers may have grown up with the idea that Europe is filled with nothing more than unorganised countries that are run by corrupt and incompetent socialists. While it may be true in some cases, Europe’s economic powerhouse Germany, is now the fourth strongest economy in the world, only a few places behind top ranked USA. Today we’re going to compare the two, in this episode of the Infographics Show, US Economy vs German Economy. Don’t forget to subscribe and click the bell button so that you can be part of our Notification Squad. In 2016, The United States had a share of around a quarter of the gross world product at $18 trillion, while Germany had a take in 4.4% at $3.4 trillion. To put things into perspective, The US overshadows Germany in terms of size and population with around 325 million people and a land area of 3.5 million square miles (3,531,837 square miles) compared to Germany’s population of 82 million and land area of 135 thousand sq miles (134,580 square miles). The USA has a labor force of 158.6 million while Germany has 45.3 million. The cost of living in Germany is around 11% cheaper overall than in the USA which is comparable to the salary difference. The disposable net-adjusted income per capita for the average household in Germany is $31,925 a year, while it’s $41,071 for Americans. Both countries have a considerable gap between rich and poor, with Germany’s top 20% of people earning over four times that of the bottom 20%. American’s top 20% earn a staggering 8 times what the bottom 20% do. As of January 2017, the minimum wage in Germany nationwide is $9.79 (8.84 euros), while the minimum wage in the USA ranges depending on each state and whether the job is one that earns tips. Germany has a reputable export market which shipped goods to a value of $1.33 trillion dollars in 2016. 70.5% of that was made up of their Top 10 export products – (1) vehicles, (2) machinery including computers, (3) electrical machinery and equipment, (4) pharmaceuticals, (5) medical products, (6) plastics, (7) aircrafts and spacecraft, (8) iron and steel products, (9) mineral fuels and (10) organic chemicals. The fastest growing category for the Germans is vehicle exports, with aircraft and spacecraft not far behind. In the same year, America exported only slightly more than the Germans, with $1.454 trillion dollars of goods shipped, equating to only around 7.8% of the economic output. The US Top 10 exports in 2016 were (1) machinery including computers, (2) electrical machinery and equipment, (3) aircrafts and spacecraft, (4) vehicles, (5) mineral fuels, (6) medical products, (7) plastics, (8) Gems and precious metals, (9) pharmaceuticals, and (10) organic chemicals. According to Professor Bernd Venohr of Berlin’s School of Economics, “America concentrates on the mass market and quantity, but Germany is king of niche markets.” Germany has a strong manufacturing sector which makes up around one quarter of its economy while the US sector is only twelve percent. Germany’s success relies on two important advantages. The first is that they have a manufacturing commitment with support for training and offers technical apprenticeships and vocational training, along with sponsored school programmes. They also give company penalties for getting rid of workers. The second is that they have a lower corporate income tax rate which benefits investors and companies, who can reinvest and raise capital more easily. While President Trump has criticized Germany for its unwillingness to spend more on defence and endless trade surpluses, back in the Obama days, government policy makers were seeking guidance from Germany to help them in doubling the nation’s export growth, which was a promise from the then President. A large part of Germany’s export and manufacturing success is due to its large number of small and medium size enterprises or SMEs which have less than 500 workers and annual sales of under 50 million Euro. 99% of companies are SMEs and employ around two thirds of workers in the country while in the USA, even though the percentage of SMEs is the same, they only employ around 50% of the population. German workers have access to affordable and quality healthcare, while many US SME workers probably don’t, and if they do it will be of low quality. The decisions and policies of a government highly affects the economy and quality of life for its people. Germany shows higher government effectiveness than the USA with its integrity in policymaking processes and government institutions, with accountability for its politicians and less corruption. The young adult population of Germany has one of the lowest unemployment rates in the world and enjoy good morale in their workplaces with a high quality of life so the fact that the German economy has been on a fast growth rate compared to the US is believable. You could, however, wonder what manipulation has been done to US GDP and employment statistics due to the poor corruption rating given by The World Bank, The World Economic Forum and Transparency International. It would be safe to say that the US has a lot to learn from the Germans in terms of their government and economic policies and in fact Americans could be much richer if the US Government did not, overspend on healthcare and pharmaceutical drugs, Spend $3-4 trillion on the Afghanistan and Iraq wars, Give fossil fuel companies annual tax breaks of billions of dollars, and Ruin electrical engine designs in the past which would have done away with the Middle Eastern oil dependence. So what does the future hold for these two powerful economies? While America dominates the global economy, it might not for much longer. With only a 1.6% growth rate in 2016, it was far behind China’s 6.7% growth, who sit in second place behind the US in the top economy ratings. Germany's quality of life has never been this high and the economy has almost fully recovered since the last crisis. But, although strong by European standards, their economy could see some challenges in the next few years due to the refugee crisis and the implementation of Brexit. So, which country do you think has more potential growth in the future? Could Germany improve its ranking over the next few years? Let us know in the comments! Also, be sure to check out our other video called American Cops vs British Cops?! Thanks for watching, and, as always, don’t forget to like, share, and subscribe. See you next time!

Contents

Economic Census

The United States Census Bureau currently conducts a comprehensive Economic Census[1] every five years. The results of this survey are tabulated according to the NAICS and provide statistics about the U.S. economy. The most recent data are from 2007.[2] The 2012 Economic Census is underway with the initial results to be available in December 2013.[3]

Comparative statistics

The Census Bureau releases sector-by-sector statistics on the number of establishments, total business activity, annual payroll, and number of paid employees. A standardized classification of the economy into sectors makes it possible to compare census results over time. However, to reflect the evolving nature of the economy, the NAICS is updated every five years. Therefore, when comparing different censuses, a particular NAICS basis is usually specified. The following data are based on a comparison of the 2007 and 2002 censuses using the 2002 NAICS basis and an older comparison of the 1997 and 2002 censuses using the older 1997 NAICS basis. Thus, (*) the 1997 data are based on a slightly different classification than the 2007 and 2002 data.

Number of establishments by sector in the United States economy in 1997, 2002, and 2007.
Number of establishments by sector in the United States economy in 1997, 2002, and 2007.
Value of sales, shipments, receipts, revenue, or business done by sector in the United States economy in 1997, 2002, and 2007.
Value of sales, shipments, receipts, revenue, or business done by sector in the United States economy in 1997, 2002, and 2007.
Annual payroll by sector in the United States economy in 1997, 2002, and 2007.
Annual payroll by sector in the United States economy in 1997, 2002, and 2007.
Employees by sector in the United States economy in 1997, 2002, and 2007.
Employees by sector in the United States economy in 1997, 2002, and 2007.
Annual payroll per employee by sector in the United States economy in 1997, 2002, and 2007.
Annual payroll per employee by sector in the United States economy in 1997, 2002, and 2007.

2002 statistics

Sectors of the U.S. Economy in 2002 - firms with payroll - All Sector Totals[4]
Sector Establishments Sales, receipts, or
shipments ($1,000)
Annual payroll
($1,000)
Paid
employees
Mining 24,087 182,911,093 21,173,895 477,840
Utilities 17,103 398,907,044 42,417,830 663,044
Construction 710,307 1,196,555,587 254,292,144 7,193,069
Manufacturing 350,828 3,916,136,712 576,170,541 14,699,536
Wholesale trade 435,521 4,634,755,112 259,653,080 5,878,405
Retail trade 1,114,637 3,056,421,997 302,113,581 14,647,675
Transportation & warehousing 199,618 382,152,040 115,988,733 3,650,859
Information 137,678 891,845,956 194,670,163 3,736,061
Finance & insurance 440,268 2,803,854,868 377,790,172 6,578,817
Real estate & rental & leasing 322,815 335,587,706 60,222,584 1,948,657
Professional, scientific, & technical services 771,305 886,801,038 376,090,052 7,243,505
Management of companies & enterprises 49,308 107,064,264 178,996,060 2,605,292
Administrative & support & waste management & remediation service 350,583 432,577,580 206,439,329 8,741,854
Educational services 49,319 30,690,707 10,164,378 430,164
Health care & social assistance 704,526 1,207,299,734 495,845,829 15,052,255
Arts, entertainment, & recreation 110,313 141,904,109 45,169,117 1,848,674
Accommodation & food services 565,590 449,498,718 127,554,483 10,120,951
Other services (except public administration) 537,576 307,049,461 82,954,939 3,475,310
Totals 6,891,382 21,362,013,726 3,727,706,910 108,991,968
Sales and employees by sector within the United States economy in 2002.
Sales and employees by sector within the United States economy in 2002.
Sectors of the US economy ranked by number of sales, receipts, or shipments in the year 2002. Includes both employers and nonemployers
Sectors of the US economy ranked by number of sales, receipts, or shipments in the year 2002. Includes both employers and nonemployers

See also

References

  1. ^ Economic Census: https://www.census.gov/econ/census/
  2. ^ 2007 Economic Census: https://www.census.gov/econ/census07/
  3. ^ 2012 Economic Census: https://www.census.gov/econ/census/index.html
  4. ^ 2002 Economic Census - Summary Statistics by 2002 NAICS: https://www.census.gov/econ/census02/data/us/US000.HTM
This page was last edited on 7 December 2018, at 18:35
Basis of this page is in Wikipedia. Text is available under the CC BY-SA 3.0 Unported License. Non-text media are available under their specified licenses. Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc. WIKI 2 is an independent company and has no affiliation with Wikimedia Foundation.