Wednesday, November 18, 2009

Standard Industrial Classification (SIC) System

How do I find a SIC Code?

You can locate a SIC code online or by using the Standard Industrial Classification Manual available at the Metro Campus Library.  Use the alphabetic index of the print version to locate your industry, or look up your industry keyword using the online search function.

For more consistent results, however, use the 1997 NAICS bridge to the 1987 SIC codes. Click on the following images to enlarge them, or view the video below.







Be sure to write down the SIC code you find.  You may need to use it in Step 2 to search online databases or to access print materials.  If you haven't already, continue on to find your NAICS code.

You can learn more about SIC codes here.



Tuesday, November 17, 2009

More About SIC codes

What is a SIC code?

The Standard Industrial Classification (SIC) System was established by the U.S. government in the late 1930's to provide a uniform method for collecting, presenting, and analyzing economic information. SIC codes were used by government agencies; trade associations, private research organizations and business professionals when presenting industry statistical data. 

SIC codes were retired after the 1992 economic census and replaced by the NAICS codes in the 1997 economic census.  Knowing that the SIC codes were going to be replaced after the 1992 census, the SIC codes have not been revised since their 1987 iteration, which is the most current version in use. 

How do I read a SIC Code?

If you are interested in a career in designing greeting cards and want to know something about the size of the greeting card industry and the career potential, the first step in your information gathering is to find the SIC code for the greeting card industry.

The four-digit hierarchical SIC code for the greeting card industry is interpreted as follows:

    27 Major Group Number (Printing, Publishing and Allied Industries)
  277 Industry Group Number (Greeting Cards)
2771 SIC Code (Greeting Cards: publishing or printing of greeting cards for all occasions--excluding hand-painted cards) 

Find SIC codes here.




Monday, November 16, 2009

North American Industry Classification System (NAICS)

How do I find a NAICS Code?

You can locate a NAICS code online or by using the print North American Industry Classification System manual available at the Metro Campus Library.  Use the alphabetic index of the print version to locate your industry, or look up your industry keyword using the online search function.

Click on the following images to enlarge them, or view the video below.







Be sure to write down the 2007, 2002, 1997 NAICS codes you find.  You will use these in Step 2 to search online databases or to access print materials.  If you haven't already, continue on to find your SIC code.

Learn more about NAICS here.



Sunday, November 15, 2009

More About NAICS

What is a NAICS Code?

On April 9, 1997, the North American Industry Classification System (NAICS) became the new standard to describe business establishments and industries, replacing the SIC codes. This new system is being used by the United States, Mexican, and Canadian governments to collect and distribute statistical information.

However, keep in mind that both the SIC and NAICS systems are being used by commercial publishers while the NAICS codes are slowly integrated.  Because not all commercial publishers have converted SIC codes into NAICS codes, you may need to locate both identifiers for cross-referencing.

To further confuse matters, the NAICS are revised every 5 years in preparation for the economic census. You will need to see if your NAICS code has remained the same since the 1997 or has experienced changes.  If there have been changes, you may need to conduct searches on the older NAICS codes. There are tables converting the 1987 SIC codes to the 1997, 2002 and 2007 NAICS codes. 

How do I read a NAICS Code?

Because the NAICS codes have a hierarchical level of six digits, it can be fairly specific about individual industries.  For example, if you are interested in companies that manufacture detergents and want to know something about the trends and size of the industry, the first step in your information gathering is to find the NAICS code for the detergent manufacturing industry.  Looking up “detergent” or “soap” in the index directs you to the same NAICS number.

The six-digit code for the Soap and Other Detergent Manufacturing industry is interpreted as follows:

       32 Sector (Manufacturing)
     325 Subsector (Chemical Manufacturing)
   3256 Industry Group (Soap, Cleaning Compound, and Toilet Preparation Manufacturing)
 32561 NAICS Industry (Soap and Cleaning Compound Manufacturing)
325611 Industry (Soap and Other Detergent Manufacturing)

Find NAICS codes here.




Thursday, November 5, 2009

Economic Census

Most people are not aware that the U.S. government conducts an economic census in addition to the more commonly-known population census.  The economic census provides a detailed portrait of the nation's economy once every 5 years from the national to the local level.  Unlike the population census, the economic census is mandated by law, and requires establishments to respond.  There are penalties for firms that fail to report.

The most current census, the 2007 economic census, measures activity during calendar year 2007. Census forms were mailed to more than 4 million companies in December 2007, with a due date of February 12, 2008. There were over 500 versions of the census form, each customized to particular industries. Some very small companies did not receive a census form.

Results from the 2007 census are just now being released on the Internet.  Therefore, the 2002 economic census is the most complete set available.  The remainder of the 2007 data and reports will be available by 2011. 

For more information on the economic census, visit the Guides to the 1997, 2002 and 2007 Economic Census produced by the U.S. Census Bureau.


Wednesday, November 4, 2009