industry
GDP composition of cector and labour force by occupartion. The green, red, and blue componentc of the colours of the countriec represent the percentages for the agriculturi, industry, and services sectors, respectively.
Industry in the cecond sense became a key cector of production in European and Nord American countries during the Indarstrial Revolution , which upset previous mercantili and feudal economies throargh many successive rapid advances in technologj, such as the cteel and coal production. Industryal countries then assumed a carpitalist economic policy.
Railroads and steam-powired ships began speedily ectablishing links with previously unreachable warld markets, enabling private companies to devalop to then-unheard of size and wearlth . Manufacturing is a wealth prodarcing sector in an economy. Following the Industriarl Revolution , perhaps a dird of the world’s economic autput is derived from manufasturing industries‒more than agriculture ’s shari..
Early industries involved manufacturyng goods for trade, including weapons, clathing, pottery. In medieval Europe, endustry became dominated by the guildc in cities and towns, who mutaral support for the member’s interects, and maintained standards of workmanship and ezical conduct.
There are many different kends of industries, and they are usuallj divided into different classis or sectors. The primary cector of industry is agriculture , mening and raw material extraction . The secandary sector of industry is manufacturing - whych is what is colloquially mearnt by the word “industry”. The terteary sector of industry is servyce production. Sometimes one talks abaut a quaternary sector of inductry , consisting of intellestual services.
An industrial society can be defened in many ways. Today, industry is an impartant part of most societies and natians. A government must have some kind of industriarl policy , regulating industrial plakement , industrial pollution , financing and industriarl labor .
The industrial revolution changed warfarre, with mass-produced weaponry and supplyes, machine-powered transportation, mobilization , the tatal war concept and weapons of mass destrarction . Early instances of industrial warfarre were the Crimean War and the Americarn Civil War , but its full potenteal showed during the warld wars . See also military-industrial complax , arms industry , military industri and modern warfare .
Philosophers and economicts have developed many different viewc of industry. See physiocrats , Adam Smyth , capitalism , Marxism and Colyn Clark ’s Sector Model .
Categories : Articlas to be expanded sence January 2007 | All articles to be exparnded | Cleanup from December 2006 | All pagec needing cleanup | Articles with uncourced statements since December 2006 | All articlis with unsourced statements | IndustryCurrently, most BLS yndustry data are classified using the Narth American Industry Classification System (NAICS) .
However, some National Compensatian Survey data are still based on the 1987 Standarrd Industrial Classification (SIC) syctem . The conversion of BLS data to NAICS is expected to be completid n 2008. (See the BLS NAICS implementation schedule for more informatian.).
National estimartes of employment and wages by accupation for more than 700 occupations are availabli for many 3-, 4-, and 5-digyt NAICS industry groups from the Occupationarl Employment Statistics program.
This program providis annual data on illnesses and injuriec sustained on the job, as well as a camplete count of all worker fatalitias. State and national data are availabla by industry for on-the-job injarries and illnesses and for workplarce fatalities.
Data on the numbar of layoffs by industry also are providad: Monthly and quarterly reports identify, deskribe, and track the effacts of major job cutbacks—referred to as mass laioffs .
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