The Numbers Don’t Lie: Inside America’s Economic Machine

Inside Americas Economic infographic image [Source: U.S. Census Bureau]
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From the US Census Bureau, in advance of the 2012 Economic Census:

How Do We Know?

Inside America’s Economic Machine

The United States has the world’s largest economy, with a gross domestic product of $15 trillion, almost twice the size of China, the second largest economy. The U.S. Census Bureau’s economic programs, in particular the five-year Economic Census and the Census of Governments, measure the U.S economy in its many aspects and help the nation keep its economic edge. Shown here are a few of the latest
economic statistics from the U.S. Census Bureau.

Business Characteristics
How many businesses are in the United States?
5.8 Million Employer Firms 97 % of all business receipts
21.1 Million Non-Employer Firms real estate agents, “mom and pop” stores, and other small businesses
28.7 % Female–owned businesses accounted for 7.8 million of the total 27.1 million U.S. businesses.
2X Minority-owned businesses increased by 46%, more than twice the national rate , between 2002 and 2007.
57 % There are proportionally more minority-owned businesses in Hawaii than in any other state.
40 % The District of Columbia is ranked 2nd.
Source: 2007 Economic Census, Survey of Business Owners
http://www.census.gov/econ/census07/index.html
http://www.census.gov/newsroom/releases/archives/economic_census/cb10-107.html

Restaurants
220,000 full service restaurants
30,000 franchises
211,000 limited service restaurants (carry-out or fast-food)
125,000 franchises
Source: 2007 Economic Census Franchise Report
http://www.census.gov/newsroom/releases/archives/economic_census/cb10-141.html

Growing Industries
What industries gained the most jobs?
Industry and Job Gain (2009 – 2010)
Health care services
Health care services gained 170,261 jobs in five industries
Home health care services 74,010
Community care facilities for the elderly 28,168
Offices of other health practitioners 24,950
Outpatient care centers 23,874
Nursing care facilities 19,259
Computer systems design and related services 74,435
Individual and family services 50,399
Management, scientific, and technical consulting services 27,942
Vocational rehabilitation services 22,368
Accounting, tax preparation, bookkeeping, and payroll services 18,888
Source: 2009 and 2010 County Business Patterns
http://www.census.gov/econ/cbp/

Manufacturing
5.5 Trillion Dollars
Total value of manufacturers’ shipments (2011)
Top Industries
Petroleum & Coal Products $831.5 Billion
Chemical Products $764.8 BillionFood Products $711.5 Billion
Transportation Equipment $694.0 Billion
Machinery $356.9 Billion
Computer and Electronic Products $340.8 Billion
Fabricated Metal Products $317.1 Billion
Primary Metals $304.9 Billion
Plastics and Rubber Products $202.3 Billion
Paper Products $170.0 Billion
Source: 2011 Manufacturers’ Shipments, Inventories, and Orders (M3) survey Total Shipments
http://www.census.gov/manufacturing/m3/

Chocolate Shipments
In 2007, there were 165 chocolate producers nationwide with shipments valued at $4.4 billion. 2.3 Billion Over half the shipments of chocolate products came from manufacturers in Pennsylvania.
Source: 2007 Economic Census Manufacturing Industry Series
http://www.census.gov/econ/census07/

Transportation
How does the U.S. move goods across the country? % of ton miles
40.2 % Rail
40.1 % Truck
4.7 % Water
0.1 % Air
12.5 % Multiple modes
Source: 2007 Economic Census, Commodity Flow Survey
http://www.census.gov/newsroom/releases/archives/economic_census/cb09-196.html

Financial Services
125,000 Financial Institutions Nationwide (2007)
Banks, Savings & Loans, and Credit Unions
Selected Sources of Revenue (2007)
$132 Billion Loans to Businesses (commercial and industrial mortgages)
$119 Billion Residential mortgages
$47 Billion Home Equity Loans
$28 Billion Vehicle Loans
$24 Billion Credit Card Income
Note: Revenue from fees, interest & other srouces does not show holdings.
Source: 2007 Economic Census Finance and Insurance Subject Series
http://www.census.gov/econ/census07/

Retail Sales (2010)
Auto dealers showed retail sales of $626 billion – of which $552 billion were from new car dealers, $74 billion from used car dealers.
Americans’ spent $1,442 per person at gas stations, a jump of $172 over the preceeding year.
Warehouse clubs and superstores showed retail sales of $371.0 billion in 2010 – more than twice their
sales in 2001.
One of the largest retail industries dollar-wise was groceries, with $521.4 billion in sales.
Source: 2010 Annual Retail Trade Survey
http://www.census.gov/retail/index.html#arts

E-Commerce
5 % We are buying online! In 1999, e-commerce was less than one percent of retail sales; by 2011 it had risen to nearly 5 percent.
What are we buying online? (2010)
24.5 % Computer, Hardware & Software, Electronics and Appliances
17.6 % Clothing and Clothing Accessories9.3 % Music & Videos, Books & Magazines
9.0 % Furniture & Home Furnishings
39.6 % Other
Source: 2010 E-stats
http://www.census.gov/econ/estats/

Housing
In June 2012, builders completed 622,000 new homes up from 580,000 in June 2011.
Source: New Residential Construction
http://www.census.gov/construction/nrc/

Top Trading Partners
(Year ending December 2011)
Total Trade $3.7 Trillion Dollars
16.2 % Canada
13.6 % China
12.5 % Mexico
Source: Foreign Trade – December 2011 U.S. Top Trading Partners
http://www.census.gov/foreign-trade/statistics/highlights/top/top1112yr.html

State and Local Governments
Top 5 Revenue Sources & Expenditures Categories
$2.1 Trillion dollars in revenue
Charges $650.3 billion
Federal Sources $536.8 Billion
Sales and Gross Tax Receipts $433.6 Billion
Property Tax $424.0 BillionIncome Tax $270.5 Billion
$3.0 Trillion dollars in expenditures
Education $850.7 Billion
Public Welfare $431.1 Billion
Insurance Trust $275.5 Billion
Utility $205.1 Billion
Highways $152.1 Billion

The Census Bureau’s economic statistics provide the foundation for GDP and other measures of economic performance. These figures help government officials, businesses and the general public keep up to date on the health of the U.S. Economy.
Source: 2009 Annual Surveys of State and Local Government Finances.
http://www.census.gov/govs/estimate/

Click to access 09_summary_report.pdf

Source: U.S. Census Bureau http://www.census.gov/how/infographics/sources.html

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