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The U.S. Census Bureau today released its 2010 Service Annual Survey, which shows that of the nation's 11 service sector, 10 showed an increase in revenues for employer firms between 2009 and 2010. Only the finance and insurance sector (NAICS 52) showed a loss ($27.2 billion, a loss of 0.8 percent). (See Table A.)
“The statistics presented in this year's Service Annual Survey are noteworthy,” said Thomas Mesenbourg, the Census Bureau's deputy director. “We are able to present a six-year trend that clearly shows the impact the most recent recession had on certain service sectors. At the same time, the newly released 2010 statistics show that in some industries there is evidence of a statistically significant change in an upward direction.”
These figures are the first findings from this survey to track the revenues of services after the December 2007 to June 2009 recession. Accompanying these figures is a webinar that will examine the revenues of selected industries for the years 2005 to 2010, covering before and after the latest recession.
The Service Annual Survey provides the most comprehensive national statistics available annually on service activity in the United States. Since 2009, the survey was expanded to collect data for all service industries, capturing 55 percent of U.S. gross domestic product (GDP). Previously, the survey accounted for only 30 percent of GDP.
“Increases varied widely across service sectors. For example, the information sector (NAICS 51) increased from $1.08 trillion to $1.1 trillion. Within this sector, Internet publishing and broadcasting (NAICS 516) continued to see increased revenues, up 11.3 percent from $19.1 billion to $21.3 billion in 2010. (See Table 3.0.1)
Television broadcasting (NAICS 51512) increased 12.0 percent from $31.6 billion to $35 billion. Cable and subscription other programming (NAICS 5152) as well as wireless telecommunications carriers (NAICS 5172) also saw increases in revenue of 7.3 percent and 5.3 percent, respectively, to $55.2 billion and $195.5 billion. (See Table 3.0.1)
However, revenues for newspaper (NAICS 51111) and periodical publishers (NAICS 51112) continued to fall. Newspaper publishers declined by 4.6 percent to $34.7 billion, and periodical publishers declined 1.8 percent to $38.4 billion. Wired telecommunications carriers (NAICS 5171) continued to decline, falling 2.3 percent to $168.8 billion. (See Table 3.0.1)
Health care and social assistance revenue (NAICS 62) continued to increase for employer firms, rising to $1.9 trillion in 2010, an increase of 4.0 percent. Hospitals (NAICS 622) increased revenue to $822.6 billion, up 4.5 percent from 2009. Nursing and residential care facilities (NAICS 623) also rose 4.4 percent to $192.0 billion. (See Table 8.1)
The finance and insurance sector (NAICS 52) had a small decline to $3.3 trillion in revenues in 2010, decreasing 0.8 percent from the prior year. Securities and commodity exchanges revenue (NAICS 5232) decreased 1.5 percent to $10.9 billion, while miscellaneous intermediation revenue (NAICS 523910) rose 16.0 percent to $23.6 billion. (See Table 4.1)
Among other sectors covered by the Service Annual Survey: