August 4, 2015 - Compliance

OMB Seeks Public Comment on NAICS Update Proposal

Compliance-3The Office of Management and Budget (OMB) seeks public comment on the advisability of adopting the proposed North American Industry Classification System (NAICS) updates for 2017 recommended by its Economic Classification Policy Committee (ECPC).

The ECPC, comprised of representatives of the Bureau of Economic Analysis, Bureau of Labor Statistics, and Census Bureau, has recommended that OMB update the industry classification system to clarify existing industry definitions and content, recognize new and emerging industries, and correct errors and omissions. The updates would apply to the U.S., Canada, and Mexico.

OMB’s notice:

  • (1) Summarizes the background for the proposed revisions to NAICS 2012 (Part I);
  • (2) contains a summary of public comments (Part II);
  • (3) includes a list of title changes for NAICS industries that clarify, but do not change, the existing content of the industries (Part III); and
  • (4) provides a comprehensive listing of proposed changes for national industries and their links to NAICS 2012 industries (Part IV).

Comments are due October 5, 2015.