An industry code is a classification system used by data scientists, global businesses and corporations to classify businesses by industry, subject, or region. The North American Industry Classification System (NAICS) and the Standard Industry Classification (SIC) codes are maintained by the United States government, and are used in research to identify reports and compare markets.
The North American Industry Classification System (NAICS) is maintained by the U.S. Census Bureau. The Bureau of Labor Statistics highlights industries by supersector and gives it a NAICS number to assist in researching that particular sector.
Example: if I wanted to find out how many employees in the Unites States are employed last month in telecommunications, I would check the NAICS code 517 and find the Workforce Statistics from the Bureau of Labor Statistics. This data is maintained monthly, and typically is run at the beginning of each month.
The Standard Industry Classification System (SIC) was the original classification before NAICS was used by the U.S. government. Some businesses and reports still use and maintain the SIC code, which is why it's important to analyze both in market research queries.
While not an industry code per se, "The 2018 Standard Occupational Classification (SOC) system is a federal statistical standard used by federal agencies to classify workers into occupational categories for the purpose of collecting, calculating, or disseminating data. All workers are classified into one of 867 detailed occupations according to their occupational definition."
Knowing an SOC code for a given occupation in a major can be useful data for projecting future career options.
Lisle
Kindlon Hall
5700 College Rd.
Lisle, IL 60532
(630) 829-6050
Mesa
Gillett Hall
225 E. Main St.
Mesa, AZ 85201
(480) 878-7514
