Back to Service Sector Statistics
1997 ECONOMIC CENSUS - FINANCE AND INSURANCE
PURPOSE
To provide periodic and comprehensive statistics about financial and insurance establishments and their activities. The United States Code, Title 13, requires this census and provides for mandatory responses.
COVERAGE
All domestic establishments primarily engaged in financial transactions (transactions involving the creation, liquidation, or change in ownership of financial assets) and/or in facilitating financial transactions. Three principal types of activities are identified: (1) raising funds by taking deposits and/or issuing securities and, in the process, incurring liabilities, (2) pooling of risk by underwriting insurance and annuities, and (3) providing specialized services facilitating or supporting financial intermediation, insurance, and employee benefit programs. In addition, monetary authorities charged with monetary control are also included. These are businesses classified in NAICS sector 52. In 1997, over 395 thousand employer establishments accounted for $2.2 billion of revenue in this sector.
CONTENT
Basic data obtained for all reporting units include kind of business, geographic location, revenue, annual and first quarter payroll, and the number of employees for the pay period including March 12. Establishments receiving a census form provide additional data such as revenue by source and other industry-specific measures. Multiunit firms in certain industries report revenue and related output measures consolidated to the state or national levels. These industries are commercial banks; savings institutions; life insurance; health insurance; title insurance; hospital and medical service plans; fire, marine, and casualty insurance; and surety insurance.
FREQUENCY
Every 5 years, beginning in 1992, for years ending in "2" and "7." Data collection begins in December of the census year and reports are due about 8 weeks later. Data are requested for activities taking place during the census calendar year.
METHODS
A mail-out/mail-back data collection for all establishments of multiunit companies and most single-establishment employers; administrative records data for some small employers. Most multiunit firms receive a census form for each establishment; however, multiunit firms in selected industries receive only a census report only at a national level or for states in which the firm operates.
Single establishment employer firms receive a census form if they are not classified as insurance agents and brokers (NAICS 52421), or if they are classified in this industry and have annualized payrolls above a size cutoff. Employer establishments in NAICS 52421 that are below the size cutoff are sampled using a stratified sample with strata based on kind of business and geography. Basic data for small employers not selected in this sample are obtained from Federal administrative records. For NAICS 52421, estimates of revenue by source and other industry-specific data are based partly on small employer sample results.
PRODUCTS
Geographic Area Series consists of 52 PDF (portable document format) reports, one for the U.S., each state, and the District of Columbia. Reports tabulate data for establishments of companies with payroll by kind of business for the U.S., states, and metropolitan areas.
Subject Series reports will consist of 4 reports: Establishment and Firm Size, Sources of Revenue, Miscellaneous Subjects and a Summary Report.
USES
The Bureau of Economic Analysis will use the data to benchmark the national income and product accounts and input-output tables. The Bureau of Labor Statistics will use the data in developing productivity measures.
Trade associations will use census data to analyze their industry. Finance and Insurance enterprises will use census data to determine their market share, evaluate their performance relative to the rest of the industry, and develop marketing strategies.
SPECIAL FEATURES
A source of detailed industry and geographic data on revenue, revenue by source, and key industry-specific measures.
Core Business Statistics Series: SIC-Based Comparative Statistics | Bridge Between NAICS and SIC
Back to top
