Government Sector

First Research, Inc.
December 8, 2014
10 Pages - SKU: FRRS5399803
Countries covered: United States

Government Sector

Brief Excerpt from Industry Overview Chapter:

Agencies in this sector administer US government services at the federal, state, or municipal level. The largest government agencies by employment include the federal Department of Defense, Department of Veterans Affairs, Department of Homeland Security, Treasury Department, 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 budgets of all nations total more than $22 trillion.

The US government services sector consists of more than 90,000 federal, state, and local government entities with combined budgets of about $7 trillion; the federal government makes up about half of that total. Key challenges include high unemployment rates that inhibit income tax and sales tax receipts, high pension costs as an aging workforce retires, and high debt levels that have led to the bankruptcies of some cities.

US state-specific data can be found in First Research's State profiles, for 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 more than 60 percent between 2015 and 2035, 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....



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