A New Approach to Classifying Industries in the Information Sector
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Bureau of Labor Statistics
[Excerpt] The information sector is characterized as a dynamic sector with a rapidly changing landscape influenced by new ideas and technologies. By nature, this has made it extremely difficult to effectively categorize its components over time utilizing the standard methodology employed to structure the North American Industry Classification System (NAICS). With the release of January 2008 data on February 1, 2008, the Current Employment Statistics (CES) program at the Bureau of Labor Statistics upgraded from the 2002 NAICS to NAICS 2007. The update resulted in minor definitional changes within manufacturing, financial activities, and professional and technical services, but also introduced significant changes in the structure and methodology used to classify industries within the information sector in an attempt to maximize its validity over time.
information sector; technology; North American Industry Classification System; employment; Current Employment Statistics; reclassification