Government Sector Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 7/18/2022
SIC Codes: 91 , 92 , 93 , 94 , 95 , 96 , 97
NAICS Codes: 92
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Government Sector Industry Profile

Agencies in this sector administer government services at the federal, state, or municipal level.2 The largest US government agencies by employment include the federal Department of Defense, Postal Service, Department of Veterans Affairs, Department of Homeland Security, and Department of Justice.

Worldwide, there are some 195 nations with independent governmental administrations, as well as more than 70 dependent areas or territories. Government spending by all nations is about $25 trillion. The US government services sector consists of more than 90,000 state and local governments as well as about 450 federal government agencies, departments, and commissions. Combined spending by the state and local governments account for about $3 trillion.

US state-specific data can be found in First Research's profiles of all 50 states and Washington, DC. Profiles also are available for Canadian provinces.

COMPETITIVE LANDSCAPE

Demand for government services is driven by population growth and changing demographics of the US population. The US Census Bureau estimates that the 65-and-over population will climb by about 80% between 2016 and 2040, which will increase the demand for federal programs like Social Security and Medicare. State and local governments experience similar demand drivers, but face increasing or decreasing revenues from which to fund services based on shifts in the population, as well as changes in economic conditions.

Cities and states compete with one another to attract employers. States are awarded federal block grants and other funds based ...

 
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