According to County Business Patterns, in 2010, US establishments in NAICS 323113 had an annual payroll of $1.8 billion. Payrolls were generally unaffected by the Great Recession and increased during the 2010s, at least in current dollars, ending the decade at $2.3 billion in 2019. However, taking into account the inflation, the wage bill fell by -10% over the decade. In the macro news: Q1 GDP revised down.
We are continuing our examination of the annual payroll in the printing industry.
In 2010, US commercial screen printing establishments had an annual payroll of $1.8 billion. Payrolls for this NAICS were generally unaffected by the Great Recession and increased during the 2010s, at least in current dollars, ending the decade at $2.3 billion in 2019. ‘inflation. If we were to adjust for inflation, the 2010 payroll would equal $2.1 billion in 2019, so we’re essentially looking at an overall -10% drop in payroll over the decade. Unlike the other NAICS we looked at, this is almost entirely due to inflation—employment and establishments grew by +12% and +16%, respectively, over the same period.
We attribute these increases to the growth in specialty printing. Screen printing is commonly used to print on textiles (t-shirts being the iconic example), and these kinds of items have really started to take off in the last decade. Add to this the rise of short-term and digital technologies that can supplement the screen, and as the demand for specialty items has increased, establishments and therefore their number of employees have increased to take advantage of this area. hot stamp application. Unfortunately, the payroll has not increased proportionately.
Coming in this dataset:
- 323117 (Printing of books)
- 32312 (Print support activities, i.e. prepress and postpress services)
This data and overall year-over-year trends, like other demographic data, can be used not only for business planning and forecasting, but also for allocating sales and marketing resources.
This macro instant
Yesterday the Bureau of Economic Analysis (BEA) released its second estimate of Q1 2022 GDP:
Real gross domestic product (GDP) shrank at an annual rate of 1.5% in the first quarter of 2022, according to the “second” estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP grew by 6.9%.
Earlier, the BEA estimated that first-quarter GDP fell 1.4%. The Q4 2021 estimate is unchanged.
The update mainly reflects downward revisions to private inventory investment and residential investment that were partly offset by an upward revision to consumer spending.