The North American Industry Classification System (NAICS pronounced ‘Nakes’) is a system for classifying businesses. It was adopted to replaced the old Standard Industrial Classification (SIC) system, which was used by the statistical agencies of the United States.
It is the first economic classification system to be constructed based on a single economic concept. Economic units that use like processes to produce goods or services are grouped together. This “production-oriented” system means that statistical agencies in the United States will produce data that can be used for measuring productivity, unit labor costs, and the capital intensity of production; constructing input-output relationships; and estimating employment-output relationships and other such statistics that require that inputs and outputs be used together. NAICS was developed jointly by the U.S., Canada, and Mexico to provide new comparability in statistics about business activity across North America.
The staff of Content First are experts at using, analyzing, and integrating this new classification system. Let us assist you to better understand and use the system to best serve your needs.
Click here to view a complete list of the 2022 NAICS codes.