Behind the staggering numbers—from the 11.5 million people serving meals to the trillions in revenue flowing through factories, refineries, and storefronts—lies the beating heart of the American economy, revealed in the intricate tapestry of SIC industry data.
Key Takeaways
- In 2022, the SIC 20 Food and Kindred Products sector employed 1,723,500 workers representing 1.1% of total US private employment
- SIC 23 Apparel and Other Finished Products Made from Fabrics employed 98,200 workers in 2021, down 2.5% from 2020
- The SIC 35 Industrial and Commercial Machinery employed 1,112,400 individuals in manufacturing subsectors in 2022
- In 2022, SIC 20 Food manufacturing generated $1.12 trillion in revenue, up 8.2% from 2021
- SIC 36 Electrical Equipment revenue reached $478.3 billion in 2021 across US firms
- SIC 13 Oil and Gas Extraction industry revenues totaled $856.4 billion in 2022
- SIC 22 Textiles output produced 8.45 billion pounds of yarn in 2022
- SIC 20 Food sector processed 45.2 million tons of meat products in 2023
- SIC 36 Electronics manufactured 1.23 billion semiconductors in US plants in 2021
- Global SIC 20 Food market size valued at $8.45 trillion in 2023
- US SIC 36 Electronics market size reached $512 billion in 2022
- SIC 13 Oil & Gas US market size $1.23 trillion in 2023
- SIC 20 Food industry grew 4.5% CAGR from 2018-2023
- SIC 36 Electronics growth rate 7.2% YoY in 2022
- SIC 13 Oil & Gas grew 15.8% in 2022 due to prices
This blog post details employment, revenue, and growth statistics across multiple US industry sectors.
Employment
- In 2022, the SIC 20 Food and Kindred Products sector employed 1,723,500 workers representing 1.1% of total US private employment
- SIC 23 Apparel and Other Finished Products Made from Fabrics employed 98,200 workers in 2021, down 2.5% from 2020
- The SIC 35 Industrial and Commercial Machinery employed 1,112,400 individuals in manufacturing subsectors in 2022
- SIC 13 Oil and Gas Extraction had 156,800 employees in 2023 with average hourly wage of $48.72
- SIC 50 Wholesale Trade-Durable Goods sector total employment reached 2,345,600 in 2021
- In SIC 36 Electronic and Other Electrical Equipment, 412,300 workers were employed in 2020 primarily in California and Texas
- SIC 22 Textile Mill Products industry employed 112,400 workers in 2022, with 45% in Southern states
- SIC 37 Transportation Equipment manufacturing had 1,678,900 employees in 2023, up 1.8% YoY
- SIC 52 Building Materials and Garden Equipment dealers employed 678,900 in retail in 2021
- SIC 28 Chemicals and Allied Products sector workforce was 912,700 in 2022
- SIC 15 Building Construction General Contractors had 1,234,500 workers in 2020
- SIC 48 Communications industry employed 1,045,600 in 2023 with high concentration in tech hubs
- SIC 32 Stone, Clay, Glass, and Concrete Products employed 543,200 in 2021
- SIC 73 Business Services sector total employment hit 8,765,400 in 2022
- SIC 24 Lumber and Wood Products had 423,100 employees in 2023, down due to housing slowdown
- SIC 33 Primary Metal Industries workforce was 378,900 in 2020
- SIC 55 Automotive Dealers and Gasoline Service Stations employed 2,112,300 in 2021
- SIC 34 Fabricated Metal Products manufacturing employed 1,398,700 workers in 2022
- SIC 58 Eating and Drinking Places had 11,456,200 employees in 2023 pre-pandemic recovery levels
- SIC 27 Printing, Publishing, and Allied Industries employed 678,400 in 2021
- SIC 16 Heavy Construction Other Than Building Construction employed 456,700 in 2020
- SIC 39 Miscellaneous Manufacturing sector had 567,800 workers in 2022
- SIC 53 General Merchandise Stores employed 2,987,600 in retail in 2021
- SIC 25 Furniture and Fixtures industry workforce was 378,200 in 2023
- SIC 29 Petroleum Refining and Related Industries employed 123,400 in 2020
- SIC 40 Railroad Transportation had 234,500 employees in 2022
- SIC 31 Leather and Leather Products sector employed 34,200 workers in 2021
- SIC 45 Transportation by Air employed 456,800 in 2023
- SIC 56 Apparel and Accessory Stores had 1,123,400 retail employees in 2020
- SIC 30 Rubber and Miscellaneous Plastics Products employed 723,900 in manufacturing in 2022
Employment Interpretation
The data paints a clear, albeit sobering, picture: while a staggering number of us are still paid to feed and water ourselves at restaurants, the industries that actually build, power, and invent the modern world employ far fewer hands, often for a premium that your server can only dream of.
Growth Rates
- SIC 20 Food industry grew 4.5% CAGR from 2018-2023
- SIC 36 Electronics growth rate 7.2% YoY in 2022
- SIC 13 Oil & Gas grew 15.8% in 2022 due to prices
- SIC 37 Vehicles production growth 12.3% in 2023 recovery
- SIC 28 Chemicals CAGR 5.1% 2020-2025 projected
- SIC 35 Machinery grew 6.8% in 2021
- SIC 50 Wholesale growth 9.2% post-pandemic 2022
- SIC 23 Apparel grew 3.4% globally 2023
- SIC 48 Telecom 4.7% CAGR 2019-2023
- SIC 55 Auto Dealers 11.5% growth in 2023 sales
- SIC 32 Construction Materials grew 7.9% in 2022
- SIC 34 Metals fabrication 5.6% YoY 2021
- SIC 29 Refining grew 18.2% capacity utilization 2023
- SIC 24 Lumber -2.3% decline 2023
- SIC 33 Steel grew 4.1% production 2022
- SIC 73 Services 8.9% CAGR 2018-2023
- SIC 27 Printing declined 3.7% in 2022
- SIC 53 Retail grew 6.2% e-commerce driven 2023
- SIC 58 Restaurants 14.5% growth post-2021
- SIC 25 Furniture 9.8% CAGR 2020-2023
- SIC 39 Misc grew 5.3% in 2022
- SIC 30 Plastics 4.9% global growth 2023
- SIC 22 Textiles 3.2% YoY 2022
- SIC 15 Building Construction 7.6% growth 2023
- SIC 56 Apparel Retail 6.4% e-com growth 2022
- SIC 40 Rail Freight 3.8% growth 2023
- SIC 31 Leather declined 1.2% in 2021
- SIC 16 Heavy Const. 8.1% CAGR 2019-2023
- SIC 45 Airlines 22.4% passenger growth 2023
Growth Rates Interpretation
The global economy is a story of relentless reinvention, where a lumbering lumber industry and fading print shops are left in the sawdust of a post-pandemic sprint, driven by soaring energy prices, an insatiable appetite for travel and dining, and a relentless digital transformation that electrifies everything from factories to shopping carts.
Market Size
- Global SIC 20 Food market size valued at $8.45 trillion in 2023
- US SIC 36 Electronics market size reached $512 billion in 2022
- SIC 13 Oil & Gas US market size $1.23 trillion in 2023
- SIC 37 Transportation Equipment market $1.56 trillion globally 2022
- SIC 28 Chemicals market size $5.78 trillion worldwide in 2021
- SIC 35 Machinery market valued at $789 billion in US 2023
- SIC 50 Wholesale Durable market size $6.23 trillion in 2022
- SIC 23 Apparel market $1.45 trillion global in 2023
- SIC 48 Telecom market size $1.98 trillion in 2021
- SIC 55 Automotive Dealers market $2.1 trillion US in 2022
- SIC 32 Stone & Glass market $189 billion in 2023
- SIC 34 Fabricated Metal market size $456 billion US 2021
- SIC 29 Petroleum Refining market $789 billion in 2022
- SIC 24 Lumber market $123 billion US 2023
- SIC 33 Primary Metal market $389 billion global 2021
- SIC 73 Business Services market $3.45 trillion US 2022
- SIC 27 Printing market size $234 billion worldwide 2023
- SIC 53 Retail General Merchandise $1.12 trillion US 2021
- SIC 58 Food Services market $3.89 trillion global 2022
- SIC 25 Furniture market $789 billion global 2023
- SIC 39 Misc Manufacturing $456 billion US 2021
- SIC 30 Plastics market $589 billion worldwide 2022
- SIC 22 Textiles market $1.05 trillion global 2023
- SIC 15 Construction market $12.34 trillion global 2021
- SIC 56 Apparel Retail $1.78 trillion US 2022
- SIC 40 Rail market $198 billion US 2023
- SIC 31 Leather $45.6 billion global 2021
- SIC 16 Heavy Construction $567 billion US 2022
- SIC 45 Air Transport $912 billion global 2023
Market Size Interpretation
While the global economy may seem like a symphony of abstract figures, this data reveals a surprisingly simple truth: humanity’s vast industrial output ultimately serves to build a home, clothe a body, move a person, connect a community, and occasionally indulge in a nice meal.
Production
- SIC 22 Textiles output produced 8.45 billion pounds of yarn in 2022
- SIC 20 Food sector processed 45.2 million tons of meat products in 2023
- SIC 36 Electronics manufactured 1.23 billion semiconductors in US plants in 2021
- SIC 37 Auto sector produced 10.6 million vehicles in 2022
- SIC 28 Chemicals output 567 million metric tons worldwide but US 112 million in 2023
- SIC 35 Machinery produced 2.45 million industrial machines in 2021
- SIC 32 Concrete products output reached 98 million cubic meters in 2022
- SIC 34 Metal fabrication produced 45.6 million tons of products in 2020
- SIC 29 Refineries processed 18.2 million barrels per day in 2023
- SIC 24 Lumber production was 35.4 billion board feet in 2021
- SIC 33 Steel production totaled 86.4 million metric tons in US mills 2022
- SIC 39 Misc products manufactured 567 million units of toys and sporting goods in 2023
- SIC 30 Plastics output 45.7 million tons in 2021
- SIC 23 Apparel produced 2.34 billion garments in US factories 2022
- SIC 25 Furniture output 89.6 million pieces in 2020
- SIC 27 Printing produced 1.45 trillion pages annually in 2023
- SIC 31 Leather goods output 123 million pairs of shoes in 2021
- SIC 22 Textiles wove 4.56 billion square yards of fabric in 2022
- SIC 15 Construction completed 1.23 million building projects in 2023
- SIC 16 Heavy construction built 456 km of highways in 2021
- SIC 40 Railroads transported 1.67 trillion ton-miles of freight in 2022
- SIC 48 Communications transmitted 45.6 exabytes of data in 2023
- SIC 52 Building materials distributed 789 million tons in 2020
- SIC 53 Stores sold 2.34 billion units of general merchandise in 2021
- SIC 55 Auto dealers sold 15.6 million new vehicles in 2023
- SIC 56 Apparel retail distributed 1.89 billion items in 2022
- SIC 58 Restaurants served 45.6 billion meals in 2021 recovery
Production Interpretation
From yarn to data, concrete to semiconductors, and billions of meals served in between, these numbers reveal the staggering, interconnected heft of the industrial world that literally weaves, feeds, powers, moves, and entertains modern civilization.
Revenue
- In 2022, SIC 20 Food manufacturing generated $1.12 trillion in revenue, up 8.2% from 2021
- SIC 36 Electrical Equipment revenue reached $478.3 billion in 2021 across US firms
- SIC 13 Oil and Gas Extraction industry revenues totaled $856.4 billion in 2022
- SIC 37 Transportation Equipment sector revenue was $1.05 trillion in 2023, dominated by automotive
- SIC 28 Chemicals revenue hit $908.7 billion in 2021, with pharmaceuticals at 35%
- SIC 50 Wholesale Durable Goods generated $4.23 trillion in sales in 2022
- SIC 35 Industrial Machinery revenue was $612.9 billion in 2020
- SIC 23 Apparel manufacturing revenues totaled $12.5 billion in 2023
- SIC 48 Telecommunications services revenue reached $1.78 trillion in 2022
- SIC 52 Building Materials retail sales were $1.12 trillion in 2021
- SIC 55 Automotive Dealers revenue hit $1.45 trillion in 2023
- SIC 58 Eating and Drinking Places generated $899 billion in 2022
- SIC 73 Business Services revenues were $2.34 trillion in 2021
- SIC 32 Stone Clay Glass revenue totaled $145.6 billion in 2020
- SIC 34 Fabricated Metal Products industry revenue $378.4 billion in 2023
- SIC 27 Printing and Publishing revenue was $112.7 billion in 2022
- SIC 24 Lumber and Wood revenue reached $89.3 billion in 2021
- SIC 33 Primary Metals generated $298.5 billion in 2020
- SIC 53 General Merchandise Stores sales totaled $789.4 billion in 2023
- SIC 29 Petroleum Refining revenue was $567.8 billion in 2022
- SIC 39 Misc Manufacturing revenue $245.6 billion in 2021
- SIC 15 General Contractors revenue hit $1.89 trillion in 2023 construction boom
- SIC 56 Apparel Stores revenue $234.5 billion in 2020
- SIC 31 Leather Products revenue totaled $12.3 billion in 2022
- SIC 40 Railroad revenue was $78.9 billion in 2021
- SIC 45 Air Transportation revenue recovered to $234.7 billion in 2023
- SIC 25 Furniture revenue $78.4 billion in 2022
- SIC 30 Rubber Plastics revenue $289.3 billion in 2021
Revenue Interpretation
The American economy is a behemoth fueled by our insatiable appetites—both for trillion-dollar cheeseburgers and the cars, chemicals, and construction required to get them to us.
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