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Sidney O. Marcus III
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Census Bureau Issues First State Report, Covering Wyoming,
on Real Estate, Rental and Leasing Industries
from the 1997 Economic Census
The Commerce Department's Census Bureau today released on the Internet
the first in a series of state reports on the Real Estate and Rental and
Leasing sector of the economy from the 1997 Economic Census.
The report,1997 Economic Census, Geographic Area Series, Real Estate
and Rental and Leasing:Wyoming, released on the Internet, presents
statistics for the state, its metropolitan areas, counties and most
populous places. It contains the first-ever county and place statistics on
real estate industries from an economic census. Reports for the remaining
states will follow throughout 1999.
Among the report's findings for 1997:
- Wyoming's largest industry in this sector, in terms of revenue, was
offices of real estate agents and brokers, with revenues of
$58.6 million, about one-quarter of the $220.8 million in revenues
for all industries in this sector. (This report covers only
establishments with paid employees.)
- Statewide, the 173 real estate agents' and brokers' offices employed
376 people, not including agents compensated solely by commissions.
- Overall, 2,463 people worked at Wyoming's 717 real estate and rental
and leasing establishments.
The 1997 Economic Census marks the premiere of a new classification
system called the North American Industry Classification System (NAICS),
which replaces the Standard Industrial Classification (SIC) system begun
60 years ago.
"The United States developed the system jointly with Canada and Mexico,
making it much easier to compare data with our North American Free Trade
Agreement partners," said Frederick Knickerbocker, the Census Bureau's
associate director for economic programs. "It is also much easier to
update, so that economic data can keep pace with the nation's changing
economy."
Data compiled for the Real Estate and Rental and Leasing sector are
subject to nonsampling errors. Nonsampling errors can be attributed to
many sources: inability to identify all cases in the actual universe;
definition and classification difficulties; differences in the
interpretation of questions; errors in recording or coding the data
obtained; and other errors of collection, response, coverage, processing
and estimation for missing or misreported data.
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The U.S. Census Bureau, pre-eminent collector and disseminator of timely,
relevant and quality data about the people and the economy of the United
States, conducts a population and housing census every 10 years, an
economic census every five years and more than 100 demographic and
economic surveys every year, all of them evolving from the first census in
1790.
