Definition
Classifies employed individuals based on the general sector of the economy where they work (e.g., Educational Services, Retail Trade, Manufacturing, Healthcare, and Social Assistance).
Why It Matters
Provides a high-level overview of the economic drivers and business landscape of a region. It indicates the primary types of economic activity andthe concentration of businesses in different sectors.
Specific Relevance for Professionals:
Marketers
Informs broad B2B targeting for services relevant to specific industries (e.g., marketing services for healthcare, logistics for manufacturing). Also relevant for B2C if a product aligns with a particular industry's culture or values.
Researchers
Fundamental for studying regional economic structure, industrial shifts, and the economic health of various sectors. It helps analyze labor market dynamics within industries.
Consultants
Crucial for economic development strategies, advising clients on market entry into specific industries, and assessing the industrial base of a region for investment or expansion.
Public Policy Workers
Important for informing economic development policies, infrastructure planning (e.g., industrial parks), and understanding the economic drivers and employment characteristics of different sectors within a region.
