The Indicator from Planet Money · Tuesday, September 29, 2026
The North American Industry Classification System (NAICS) codes are crucial for categorizing industries, monitoring economic activity, and awarding government contracts. Without a specific code, an industry faces significant challenges in data collection, decision-making, and access to federal contracts, as highlighted by the struggles of the emergency restoration industry.
“You can't make good decisions about an industry that you can't measure.”
“The codes are supposed to help us collect and monitor data accurately.”
“If your industry doesn't have its own code, it can make it much harder for your business to be found.”