Industries at a Glance

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Management of Companies and Enterprises: NAICS 55

About the Management of Companies and Enterprises sector

The management of companies and enterprises sector is part of the professional and business services supersector.

The Management of Companies and Enterprises sector comprises (1) establishments that hold the securities of (or other equity interests in) companies and enterprises for the purpose of owning a controlling interest or influencing management decisions or (2) establishments (except government establishments) that administer, oversee, and manage establishments of the company or enterprise and that normally undertake the strategic or organizational planning and decision making role of the company or enterprise. Establishments that administer, oversee, and manage may hold the securities of the company or enterprise.

Establishments in this sector perform essential activities that are often undertaken, in-house, by establishments in many sectors of the economy. By consolidating the performance of these activities of the enterprise at one establishment, economies of scale are achieved.

North American Industry Classification System

The management of companies and enterprises sector consists of a single subsector, Management of Companies and Enterprises: NAICS 551. Data published under either the sector or subsector classification are included in the tables below. The subsector consists of a single industry group, Management of Companies and Enterprises: NAICS 5511.

Workforce Statistics

This section provides information relating to employment in management of companies and enterprises. These data are obtained from employer or establishment surveys. The following tables present an overview of the industry including the number of jobs, mass layoffs, data for occupations common to the industry, and projections of occupational employment change.

Employment and Layoffs


Data series	Dec. 2008	Jan. 2009	Feb. 2009	Mar. 2009
Employment (in thousands)
Employment, all employees (seasonally adjusted)	1,872.1	1,871.7	(P) 1,865.3	(P) 1,859.0
Employment, nonsupervisory workers	1,235.7	1,223.8	(P) 1,212.3
Layoffs
Mass layoff events	17	12	14	10
Initial claimants for unemployment benefits	2,433	972	990	923
Footnotes (P) Preliminary

(Source: Current Employment Statistics, Mass Layoff Statistics)

Extended Mass Layoffs


Data series	1st quarter 2008	2nd quarter 2008	3rd quarter 2008	4th quarter 2008
Extended mass layoff events	4	6	(P) 3	(P) 12
Separations	500	658	(P) 315	(P) 2,427
Initial claimants	558	529	(P) 593	(P) 1,774
Footnotes (P) Preliminary

(Source: Mass Layoff Statistics)

Employment by Occupation


Data series	Employment, 2008
Accountants and auditors	71,790
Bookkeeping, accounting, and auditing clerks	80,020
Financial managers	46,420
First-line supervisors/managers of office and administrative support workers	42,690
General and operations managers	67,100

(Source: Occupational Employment Statistics)

Projections

For projected (future) employment estimates, see the National Employment Matrix, which includes employment estimates by industry and occupation for management of companies and enterprises.

(Source: Office of Occupational Statistics and Employment Projections)

Earnings and Hours

This section presents data on employee earnings and weekly hours. The latest industry averages of hourly earnings and weekly hours for production or nonsupervisory employees are shown. In addition, recent hourly and annual earnings are shown for occupations commonly found in management of companies and enterprises.

Earnings and Hours of Production Workers


Data series	Nov. 2008	Dec. 2008	Jan. 2009	Feb. 2009
Average hourly earnings	$22.45	$22.53	$22.64	(P) $22.66
Average weekly hours	37.5	37.0	37.0	(P) 37.4
Footnotes (P) Preliminary

(Source: Current Employment Statistics)

Earnings by Occupation


Data series	Wages, 2008
	Hourly		Annual
	Median	Mean	Median	Mean
Accountants and auditors	$28.76	$30.88	$59,820	$64,220
Bookkeeping, accounting, and auditing clerks	$16.17	$16.73	$33,640	$34,800
Financial managers	$55.54	$61.13	$115,520	$127,160
First-line supervisors/managers of office and administrative support workers	$24.99	$26.46	$51,970	$55,030
General and operations managers	$54.66	$61.71	$113,690	$128,350

(Source: Occupational Employment Statistics)

Work-related Fatalities, Injuries, and Illnesses

This section presents data for the industry on the number of workplace fatalities and the rates of workplace injuries and illnesses per 100 full-time workers in management of companies and enterprises. An injury or illness is considered to be work-related if an event or exposure in the work environment either caused or contributed to the resulting condition or significantly aggravated a pre-existing condition.


Data series	2004	2005	2006	2007
Fatalities
Number of fatalities				4
Rate of injury and illness cases per 100 full-time workers
Total recordable cases	2.7	2.4	2.1	1.9
Cases involving days away from work, job restriction, or transfer	1.5	1.3	1.1	0.9
Cases involving days away from work	0.7	0.6	0.6	0.5
Cases involving days of job transfer or restriction		0.7	0.5	0.4

(Source: Injuries, Illnesses, and Fatalities)

Workplace Trends

This section presents data on the number of establishments in management of companies and enterprises.

Establishments


Data series	4th quarter 2007	1st quarter 2008	2nd quarter 2008	3rd quarter 2008
Number of establishments
Private industry	49,416	(P) 50,797	(P) 51,003	(P) 51,163
Local government
Footnotes (P) Preliminary

(Source: Quarterly Census of Employment and Wages)

Other BLS Resources

The Editor's Desk

See industry studies in the subject matter index of The Editor's Desk (Current Edition).

Career Guide to Industries

To learn about careers from an industry perspective, see the Career Guide to Industries.