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Management of Companies and Enterprises: NAICS 55

About the Management of Companies and Enterprises sector

The management of companies and enterprises sector is part of the professional and business services supersector.

The Management of Companies and Enterprises sector comprises (1) establishments that hold the securities of (or other equity interests in) companies and enterprises for the purpose of owning a controlling interest or influencing management decisions or (2) establishments (except government establishments) that administer, oversee, and manage establishments of the company or enterprise and that normally undertake the strategic or organizational planning and decision making role of the company or enterprise. Establishments that administer, oversee, and manage may hold the securities of the company or enterprise.

Establishments in this sector perform essential activities that are often undertaken, in-house, by establishments in many sectors of the economy. By consolidating the performance of these activities of the enterprise at one establishment, economies of scale are achieved.

North American Industry Classification System

The management of companies and enterprises sector consists of a single subsector, Management of Companies and Enterprises: NAICS 551. Data published under either the sector or subsector classification are included in the tables below. The subsector consists of a single industry group, Management of Companies and Enterprises: NAICS 5511.

Workforce Statistics

This section provides information relating to employment in management of companies and enterprises. These data are obtained from employer or establishment surveys. The following tables present an overview of the industry including the number of jobs, data for occupations common to the industry, and projections of occupational employment change.

Employment

Data series Back
data
Jun.
2024
Jul.
2024
Aug.
2024
Sep.
2024

Employment (in thousands)

Employment, all employees (seasonally adjusted)

2,559.1 2,567.4 (p)2,560.1 (p)2,566.5

Employment, production and nonsupervisory employees

1,636.0 1,644.9 (p)1,627.9  

Footnotes
(p) Preliminary

(Source: Current Employment Statistics)

Employment by Occupation

Data series Employment,
2023

Accountants and auditors

106,420

Bookkeeping, accounting, and auditing clerks

75,060

Financial managers

91,150

First-line supervisors/managers of office and administrative support workers

63,770

General and operations managers

116,280

(Source: Occupational Employment and Wage Statistics)

Projections

For projected (future) employment estimates, see the National Employment Matrix, which includes employment estimates by industry and occupation for management of companies and enterprises.

(Source: Office of Occupational Statistics and Employment Projections)

Earnings and Hours

This section presents data on employee earnings and weekly hours. The latest industry averages of hourly earnings and weekly hours are shown. In addition, recent hourly and annual earnings are shown for occupations commonly found in management of companies and enterprises.

Earnings and Hours of All Employees

Data series Back
data
May
2024
Jun.
2024
Jul.
2024
Aug.
2024

Average hourly earnings

$47.99 $48.08 $47.68 (p)$48.80

Average weekly hours

38.4 39.0 38.7 (p)38.1

Footnotes
(p) Preliminary

(Source: Current Employment Statistics)

Earnings and Hours of Production and Nonsupervisory Employees

Data series Back
data
May
2024
Jun.
2024
Jul.
2024
Aug.
2024

Average hourly earnings

$34.44 $34.23 $33.95 (p)$34.25

Average weekly hours

37.8 38.4 38.5 (p)38.8

Footnotes
(p) Preliminary

(Source: Current Employment Statistics)

Earnings by Occupation

Data series Wages, 2023
Hourly Annual
Median Mean Median Mean

Accountants and auditors

$39.72 $44.99 $82,620 $93,580

Bookkeeping, accounting, and auditing clerks

$23.14 $24.45 $48,120 $50,850

Financial managers

$80.68 $91.59 $167,820 $190,520

First-line supervisors/managers of office and administrative support workers

$37.38 $40.21 $77,740 $83,640

General and operations managers

$77.67 $93.19 $161,550 $193,840

(Source: Occupational Employment and Wage Statistics)

Work-related Fatalities, Injuries, and Illnesses

This section presents data for the industry on the number of workplace fatalities and the rates of workplace injuries and illnesses per 100 full-time workers in management of companies and enterprises. An injury or illness is considered to be work-related if an event or exposure in the work environment either caused or contributed to the resulting condition or significantly aggravated a pre-existing condition.

Data series 2019 2020 2021 2022

Fatalities

Number of fatalities

      5

Blank cells indicate no data reported or data that do not meet publication criteria.

Data series 2022

Rate of injury and illness cases per 100 full-time workers

Total recordable cases

0.8

Cases involving days away from work, job restriction, or transfer

0.4

Cases involving days away from work

0.3

Cases involving days of job transfer or restriction

0.1

Blank cells indicate no data reported or data that do not meet publication criteria.

(Source: Injuries, Illnesses, and Fatalities)

Workplace Trends

This section presents data on the number of establishments in management of companies and enterprises.

Establishments

Data series Back
data
2nd quarter
2023
3rd quarter
2023
4th quarter
2023
1st quarter
2024

Number of establishments

Private industry

94,162 95,105 95,932 (p)96,948

Local government

       

Footnotes
(p) Preliminary

(Source: Quarterly Census of Employment and Wages)

Productivity

This section presents productivity and related data for the industry, presented as the percent change from the previous year. Measures of total factor productivity (TFP) compare growth in output to the growth in a combination of inputs that include labor, capital, energy, materials, and services. Measures of labor productivity, or output per hour, compare the growth in output to the growth in hours worked.

Data series Back
data
2019 2020 2021 2022

Total factor productivity (TFP)

3.4 2.7 3.8 6.0

Output

5.7 2.0 7.9 8.7

Combined inputs

2.2 -0.7 4.0 2.6

Capital input

-0.5 0.6 0.3 0.2

Labor input

1.5 -2.4 4.6 0.7

Labor productivity, output per hour

4.5 6.8 2.2 7.7

(Source: Productivity)

 

Data extracted on: October 31, 2024