Thursday, March 27, 2014

The Industry Census

Every five years, the U.S. Census Bureau conducts an economic census, and it has just released the one from 2012 - looking back at five of the most eventful years in America's economic history. The biggest winner over this period has been the oil & gas industry. Since 2007, oil & gas revenues have risen by 34 percent, while employment in the industry is up 24 percent.

That's the good news, but there's plenty of bad news as well. America lost a whopping 2.1 million jobs in manufacturing during the period; the retail industry lost 778,000 jobs and 65,000 stores. The financial sector also took a beating, losing 390,000 jobs, while revenues fell overall by $137.12 billion.

The biggest employer among the industry sectors may come as a bit of a surprise: It's the health care and social assistance industry, which employs 18.6 million people. That figure rose by 11 percent from 2007 to 2012.

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