Industry

What is Industry?

Industry meaning in Labor terms is A group of establishments that produce similar products or provide similar services. For example, all establishments that manufacture automobiles are in the same industry. A given industry, or even a particular establishment in that industry, might have employees in dozens of occupations. The North American Industry Classification System (NAICS) groups similar establishments into industries. NAICS is replacing the former Standard Industrial Classification (SIC) system.

 

reference: Glossary: U.S. Bureau of Labor Statistics – United States Department of Labor

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