By Pacific Island Times News Staff
The U.S. Census Bureau has released statistics from the 2022 Economic Census for Guam, which officials from the Census Bureau and the Guam Department of Labor announced at a press conference earlier today.
These statistics include the number of establishments, total employment, annual payroll and total sales, receipts or revenue.
Data on expenses, inventories and a wide variety of statistics are also available for selected sectors.
The Economic Census of Island Areas is the U.S. government’s official five-year measure of employer businesses in Guam and the primary source of statistics about the structure and functioning of the territory’s economy, serving as part of the framework for the national accounts of the island.
The GDOL’s Bureau of Labor Statistics assisted with survey design and logistics planning for the dissemination of Economic Census survey instruments.
“We would like to thank Guam’s business community for their support and participation, as well as our partners at the Guam Department of Labor for their on-the-ground assistance in ensuring the success of the Economic Census,” said Mike Sprung, assistant survey director at the U.S. Census Bureau.
Estimates are available by industry at the two- through selected five-digit North American Industry Classification System levels for all covered system codes that meet publication standards and by geography at the territory and municipality level.
“We are grateful for this federal-local partnership that has continuously produced detailed reporting for our economy,” said Gerard Toves, acting director of the GDOL. “These figures provide our community with the tools to make data-driven decisions and to prepare for progress.”
Below are a few highlights from the data, which are available at data.census.gov.
· Of the 3,412 total businesses in Guam, 1,616 were in Tamuning, 501 were in Dededo and 393 were in Hagåtña in 2022.
· The top three sectors by number of employees are accommodation and food services (11,996 employees), retail trade (8,447 employees), and construction (6,774 employees) in 2022.
In the traveler accommodation industry group, there were 39 establishments and 8,924 guestrooms as of Dec. 31, 2022.
Included in this Census Bureau release are 22 tables covering a wide range of data such as basic business statistics, revenue by North American Product Classification System category, data by size categories of businesses and information on the race, gender and citizenship status of the business owners.
The 2022 Economic Census also includes new data tables, which previously only covered Puerto Rico, that provide sector-specific content for the construction and manufacturing sectors:
· Cost of Materials by Construction Industry;
· Cost of Materials by Manufacturing Industry; and
· Type of Construction.
“During a time of recovery from the global pandemic, this survey reflects a period characterized by progress. The data indicates an upward trajectory, affirming the effectiveness of the policies we implemented to aid the residents and businesses of Guam during these challenging circumstances," acting Gov. Joshua Tenorio said.
"Notably, initiatives such as ALL RISE, LEAP, and the development of childcare programs played a crucial role in supporting our community's resurgence and facilitating their return to the workforce by addressing childcare needs," he added.
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