What is The North American Industry Classification System?
The North American Industry Classification System (NAICS) is a system that classifies certain industries based on specific parameters. The main purpose for the system is to provide a classification system for the U.S. Census Bureau, Bureau of Labor Statistics and other organizations that may borrow its parameters. The North American Industry Classification System was a product borne of cooperation with Canada and Mexico. First unveiled in 2003, the North American Industry Classification System was devised to replace to the Standard Industrial Classification (SIC). SIC was devised in the first half of the 20th century and was considered outdated as the types of businesses changed over the years. This was especially apparent when the information economy began to take hold at the end of the 20th century. The number of major categories went from ten in the SIC to 20 in the North American Industry Classification System. To understand the North American Industry Classification System, it is
The North American Industry Classification System (NAICS) is a system that classifies certain industries based on specific parameters. The main purpose for the system is to provide a classification system for the U.S. Census Bureau, Bureau of Labor Statistics and other organizations that may borrow its parameters. The North American Industry Classification System was a product borne of cooperation with Canada and Mexico. First unveiled in 2003, the North American Industry Classification System was devised to replace to the Standard Industrial Classification (SIC). SIC was devised in the first half of the 20th century and was considered outdated as the types of businesses changed over the years. This was especially apparent when the information economy began to take hold at the end of the 20th century. The number of major categories went from ten in the SIC to 20 in the North American Industry Classification System.
Related Questions
- How do I find the Federal Supply Classification Code (FSC) or the North American Industry Classification System (NAICS) code?
- Where can I find a list of Harmonized System (HS) codes and the North American Industry Classification System (NAICS) codes?
- How did the conversion to the 1997 North American Industry Classification System (NAICS) affect the NIPA estimates?
