An unsustainable combination: Savings way down

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Washington State Employment Security Department
Labor Market and Economic Analysis
2002
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The Information Industry

• Scott Bailey, Regional Economist
• Vancouver Office
• [phone]
• scott.bailey_at_esd.wa.gov

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Out with the SIC, in with the NAICS

• North American Industry Classification System
  (NAICS) will replace SIC code beginning in 2003
• Six-digit hierarchical classification scheme vs.
  4-digit SIC
• 20 major 2-digit industries vs. 10 major 1-digit
  industries in SIC

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New Industry Information

• The medium is the message
• NAICS code 51
• Includes
• production and distribution of information and
  cultural products
• provision of the means to distribute these
  products, as well as data or communications
• data processing

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Former SICs

• Much of SIC 27, Printing Publishing
• Almost all of SIC 48, Communications
• Almost all of prepackaged software, data
  processing, information retrieval (SICs 7372,
  7374, 7375)
• All movie production and theaters

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Formerly appearing as SIC...
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Information Industry Whos In

• Publishing software
• Film recording industry
• Radio, TV, cable services
• Internet publishing broadcasting
• Telecom
• Internet service providers (ISPs)
• Libraries, news syndicates

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Hours Worked by Workers in NAICS 51 in 2001
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Employment Wages by Subindustry, 2001
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Info Jobs by Size of Firm, 2001
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Info Industry Employmentwith 1st quarter data
for 2002
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Growth by Segment, 1990-2001
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Job Loss in 1st Quarter 2002
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Info Industry Average Wagevs. State average, in
constant 2001 dollars
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FTE Employment by Hourly Wage
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Median Hourly WageAdjusted for Inflation to 2001
Dollars
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Firm-Level Dynamics

• Births
• Deaths
• Expansions
• Contractions
• Spinoffs
• Acquisitions

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Employment Change by Size of Firm, NAICS 51,
1995-96
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Employment Change by Size of Firm, NAICS 51,
1996-97
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Washington State Employment Security Department
Labor Market and Economic Analysis
2002