The U.S. Census Bureau has released its preliminary estimates from the Annual Integrated Economic Survey (AIES), providing new data on business revenues, expenses, and assets for 2023. The AIES is a recent initiative that consolidates seven previous annual business surveys into one, offering a unified source of economic information.
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. AIES data can be used to track economic trends, assess industry performance, support policy development, and inform economic planning, resource allocation, and market research.”
The preliminary estimates include national, regional, and divisional figures for selected industries classified by the North American Industry Classification System (NAICS). These early results will be updated in the fall with more detailed statistics covering additional sectors and geographic areas.
In the Northeast region during 2023, the Health Care and Social Assistance sector employed five million workers with an annual payroll of $302.4 billion. The Finance and Insurance sector generated $1.8 trillion in revenue.
For the Midwest region, four million people worked in Manufacturing. Retail Trade generated $1.4 trillion in revenue while Education Services reported an annual payroll of $4.9 billion.
In the South region, Professional, Scientific, and Technical Services generated $998.4 billion in revenue. Retail Trade employed 6.8 million people with an annual payroll of $235.8 billion.
In the West region, there were 1.4 million employees in Information services while Accommodation and Food Services produced $367.1 billion in revenue with an annual payroll of $110.7 billion.
Additional details about sampling variability are available on the AIES First Look table page at https://www.census.gov/data/tables/2023/econ/aies/first-look.html . Methodological information regarding disclosure avoidance can be found at https://www.census.gov/programs-surveys/aies/technical-documentation/methodology.html .
Final estimates with expanded detail are expected later this year.
