Investopedia uses cookies to provide you with a great user experience. This article refers to the Industrial classification code system for the United States.

So healthcare stocks may be affected in the same way when decisions about the Affordable Care Act (ACA) are made in Washington, D.C., for instance. The companies that fall into the same industry compete for customers by offering similar services. Transportation is another sector of the economy. For instance, banks will compete with one another for customers opening up checking and savings accounts, while asset management firms seek investment clients. For example, the airline sector will include companies that build planes, such as Boeing and Airbus, airline companies that actually operate the planes and move customers from one destination to another, food companies that are focused on providing the onboard meals, and so on. Call us 1-800-387-0750, © 2019, Workplace Safety and Insurance Board, Our new classification guide for businesses, Information you need to register your business, Mandatory coverage in the construction industry, How to calculate your premium and insurable earnings, Occupational disease and workplace health hazards, Co-operating in the return-to-work process, Your health and safety rights and responsibilities, Your Guide: Services and Responsibilities – Business Edition, Making a claim for noise-induced hearing loss, Occupational disease and survivors benefits program, Getting help with work reintegration for workers, Your Guide: Benefits, Services and Responsibilities – Worker Edition, List of occupational diseases adjudicated by WSIB. [1], In the United States, the SIC code has been replaced by the North American Industry Classification System (NAICS code), which was released in 1997. This is so, because as noted above, each sector can be broken down into different industries.

Our new classification structure came into effect on January 1, 2020. These industries can be further categorized into more specific groups. Defensive stocks include the Utilities and Consumer Staples sectors. For example, administrative assistants in the automotive industry support all levels of the business, yet the SIC defines these employees as part of the "Basic Sector" of manufacturing jobs when they should be reported as "Non-Basic." Investors can use sectors as a way to categorize the stocks in which they invest, such as telecommunications, transport, healthcare, and financials.

That's because the companies in the same industry are affected by the same (or similar) factors. The Office of Management and Budget, or OMB, was tasked with revising the SIC system to reflect changing economic conditions. The Bureau of Labor Statistics updates the codes every three years and uses SIC to report on work force, wages and pricing issues. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Though all of these companies are in the airline sector and will be affected if the overall sector improves or suffers losses, they have completely different capital expenditures, cash flows, operating margins, and so on.

The first 3 digits of the SIC code indicate the industry group, and the first two digits indicate the major group. SIC codes are assigned based on common characteristics shared in the products, services, production and delivery system of a business.

There are four different sectors in an economy: For example, the economy's basic materials sector includes companies that deal with the exploration, processing, and selling of basic materials such as gold, silver, or aluminum.

United Kingdom Standard Industrial Classification of Economic Activities, North American Industry Classification System, International Standard Industrial Classification, Australian and New Zealand Standard Industrial Classification, "North American Industry Classification System", "Financial Statement and Notes Data Sets", The effect of industry classification changes on US employment composition, Labor Market Concentration does not Explain the Falling Labor Share, "The Entire SIC Code Listing - Free from EHSO", "U.S. Securities and Exchange Commission SIC Code List", "Standard Industrial Classification (SIC) System Search | Occupational Safety and Health Administration", https://en.wikipedia.org/w/index.php?title=Standard_Industrial_Classification&oldid=980699619, Creative Commons Attribution-ShareAlike License, Transportation, Communications, Electric, Gas and Sanitary service, Agricultural Prod-Livestock & Animal Specialties, Mining & Quarrying of Nonmetallic Minerals (No Fuels), General Bldg Contractors - Residential Bldgs, General Bldg Contractors - Nonresidential Bldgs, Heavy Construction Other Than Bldg Const - Contractors, Water, Sewer, Pipeline, Comm & Power Line Construction, Heavy Construction, Not Elsewhere Classified, Canned, Frozen & Preserved Fruit, Veg & Food Specialties, Canned, Fruits, Veg, Preserves, Jams & Jellies, Bottled & Canned Soft Drinks & Carbonated Waters, Miscellaneous Food Preparations & Kindred Products, Broadwoven Fabric Mills, Man Made Fiber & Silk, Apparel & Other Finished Prods of Fabrics & Similar Matl, Men's & Boys' Furnishings, Work Clothing, & Allied Garments, Women's, Misses', Children's & Infant's Undergarments, Miscellaneous Fabricated Textile Products, Millwood, Veneer, Plywood, & Structural Wood Members, Wood Household Furniture, (No Upholstered), Partitions, Shelvg, Lockers, & office & Store Fixtures, Converted Paper & Paperboard Prods (No Containers/Boxes), Newspapers: Publishing or Publishing & Printing, Periodicals: Publishing or Publishing & Printing, Books: Publishing or Publishing & Printing, Blankbooks, Looseleaf Binders & Bookbinding & Related Work, Service Industries For The Printing Trade, Plastic Material, Synth Resin/Rubber, Cellulos (No Glass), Plastic Materials, Synth Resins & Nonvulcan Elastomers, Biological Products, (No Diagnostic Substances), Soap, Detergents, Cleaning Preparations, Perfumes, Cosmetics, Specialty Cleaning, Polishing and Sanitation Preparations, Perfumes, Cosmetics & Other Toilet Preparations, Paints, Varnishes, Lacquers, Enamels & Allied Prods, Miscellaneous Products of Petroleum & Coal, Gaskets, Packg & Sealg Devices & Rubber & Plastics Hose, Abrasive, Asbestos & Misc Nonmetallic Mineral Prods, Steel Works, Blast Furnaces & Rolling & Finishing Mills, Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens), Primary Smelting & Refining of Nonferrous Metals, Secondary Smelting & Refining of Nonferrous Metals, Rolling Drawing & Extruding of Nonferrous Metals, Metal Shipping Barrels, Drums, Kegs & Pails, Heating Equip, Except Elec & Warm Air; & Plumbing Fixtures, Heating Equipment, Except Electric & Warm Air Furnaces, Metal Doors, Sash, Frames, Moldings & Trim, Prefabricated Metal Buildings & Components, Ordnance & Accessories, (No Vehicles/Guided Missiles), Lawn & Garden Tractors & Home Lawn & Gardens Equip, Construction, Mining & Materials Handling Machinery & Equip, Mining Machinery & Equip (No Oil & Gas Field Mach & Equip), Industrial Trucks, Tractors, Trailers & Stackers, Special Industry Machinery (No Metalworking Machinery), Industrial & Commercial Fans & Blowers & Air Purifying Equip, General Industrial Machinery & Equipment, NEC, Calculating & Accounting Machines (No Electronic Computers), Refrigeration & Service Industry Machinery, Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip, Misc Industrial & Commercial Machinery & Equipment, Electronic & Other Electrical Equipment (No Computer Equip), Power, Distribution & Specialty Transformers, Phonograph Records & Prerecorded Audio Tapes & Disks, Radio & TV Broadcasting & Communications Equipment, Electronic Coils, Transformers & Other Inductors, Miscellaneous Electrical Machinery, Equipment & Supplies, Aircraft Parts & Auxiliary Equipment, NEC, Search, Detection, Navigation, Guidance, Aeronautical Sys, Auto Controls For Regulating Residential & Comml Environments, Industrial Instruments For Measurement, Display, and Control, Totalizing Fluid Meters & Counting Devices, Instruments For Meas & Testing of Electricity & Elec Signals, Surgical & Medical Instruments & Apparatus, Orthopedic, Prosthetic & Surgical Appliances & Supplies, X-Ray Apparatus & Tubes & Related Irradiation Apparatus, Electromedical & Electrotherapeutic Apparatus, Watches, Clocks, Clockwork Operated Devices/Parts, Games, Toys & Children's Vehicles (No Dolls & Bicycles), Railroad Switching & Terminal Establishments, Local & Suburban Transit & Interurban Hwy Passenger Trans, Terminal Maintenance Facilities For Motor Freight Transport, Deep Sea Foreign Transportation of Freight, Airports, Flying Fields & Airport Terminal Services, Arrangement of Transportation of Freight & Cargo, Telephone Communications (No Radiotelephone), Co-generation Services & Small Power Producers, Wholesale-Motor Vehicles & Motor Vehicle Parts & Supplies, Wholesale-Motor Vehicle Supplies & New Parts, Wholesale-Lumber & Other Construction Materials, Wholesale-Professional & Commercial Equipment & Supplies, Wholesale-Computers & Peripheral Equipment & Software, Wholesale-Medical, Dental & Hospital Equipment & Supplies, Wholesale-Metals & Minerals (No Petroleum), Wholesale-Metals Service Centers & Offices, Wholesale-Electrical Apparatus & Equipment, Wiring Supplies, Wholesale-Electrical Appliances, TV & Radio Sets, Wholesale-Electronic Parts & Equipment, NEC, Wholesale-Hardware & Plumbing & Heating Equipment & Supplies, Wholesale-Machinery, Equipment & Supplies, Wholesale-Construction & Mining (No Petro) Machinery & Equip, Wholesale-Industrial Machinery & Equipment, Wholesale-Jewelry, Watches, Precious Stones & Metals, Wholesale-Drugs, Proprietaries & Druggists' Sundries, Wholesale-Petroleum Bulk Stations & Terminals, Wholesale-Petroleum & Petroleum Products (No Bulk Stations), Wholesale-Beer, Wine & Distilled Alcoholic Beverages, Wholesale-Miscellaneous Non-durable Goods, Retail-Building Materials, Hardware, Garden Supply, Retail-Lumber & Other Building Materials Dealers, Retail-Home Furniture, Furnishings & Equipment Stores, Retail-Radio, TV & Consumer Electronics Stores, Retail-Computer & Computer Software Stores, Retail-Drug Stores and Proprietary Stores, Retail-Miscellaneous Shopping Goods Stores, Savings Institutions, Not Federally Chartered, Functions Related To Depository Banking, NEC, Federal & Federally Sponsored Credit Agencies, Miscellaneous Business Credit Institution, Security & Commodity Brokers, Dealers, Exchanges & Services, Security Brokers, Dealers & Flotation Companies, Real Estate Operators (No Developers) & Lessors, Real Estate Agents & Managers (For Others), Real Estate Dealers (For Their Own Account), Land Subdividers & Developers (No Cemeteries), Hotels, Rooming Houses, Camps & Other Lodging Places, Services-Consumer Credit Reporting, Collection Agencies, Services-Mailing, Reproduction, Commercial Art & Photography, Services-Direct Mail Advertising Services, Services-Photocopying and Duplicating Services, Services-Miscellaneous Equipment Rental & Leasing.



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