Employment
38,194
Total employees (Census CBP)
Wholesale Trade ·NAICS 423940
NAICS 423940 · IRS SOI 2023 · Census CBP
Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers - Industry Benchmarks
$72,653/yr average annual pay, with 375 SBA loans on record for NAICS 423940.
- 4.1%
- Wholesale Trade sector margin
- 38K
- Workers employed
- $72,653/yr
- Avg payroll / employee
- $182M
- SBA lending, FY20–26
Data updated July 2026
The verdict · NAICS 423940
New York leads Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers activity nationally. IRS SOI doesn't publish margin data at this NAICS level, but the broader Wholesale Trade sector runs a 4.1% net margin.
- 4.1%
- Wholesale Trade sector margin (IRS SOI)
- 38K
- Workers employed (Census CBP)
- $72,653/yr
- Avg payroll / employee
- $182M
- SBA lending, FY20–26
Benchmarking Insights for Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers
Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers sits inside Wholesale Trade, a sector that runs a 4.1% net margin overall.
6,949 establishments employ 38,194 workers (5.5/location) at $72,653/yr average annual pay. New York leads employment, followed by California and Florida.
Avg Payroll / Employee
$72,653/yr
Annual compensation
Establishments
6,949
Business locations
Release-over-release change
What changed from Census CBP 2022 to 2023
Employment decreased by 188; establishment count decreased by 15. This comparison uses two published national Census County Business Patterns releases; suppressed fields are omitted rather than estimated.
Workforce scale
Financial Detail
- Annual Payroll (Total)
- $2.8B
- Avg Employees per Establishment
- 5.5
Top States by Employment
| State | Employment |
|---|---|
| New York | 11,330 |
| California | 5,767 |
| Florida | 3,244 |
| Texas | 3,063 |
| New Jersey | 2,243 |
| Ohio | 1,013 |
| Utah | 950 |
| Rhode Island | 882 |
| Illinois | 727 |
| Connecticut | 666 |
Showing top 10 of 50 states
SBA Lending Activity
SBA FY2020–2026SBA Loans Approved
375
Total Loan Volume
$182M
Avg Loan Size
$486K
Jobs Supported
1,845
Program Breakdown
7(a) 344 (92%)
504 31 (8%)
Top SBA Lender
BayFirst National Bank
40 loans in this industry
New Business Share
17.1% of borrowers were new/startup businesses
Annual Lending Trend (7 yrs)
2020 32
2021 43
2022 48
2023 73
2024 79
2025 89
2026 11
Frequently Asked Questions
How profitable is Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers?
IRS SOI doesn't publish margin data at the NAICS 423940 level. New York leads this industry nationally. The broader Wholesale Trade sector runs a 4.1% net margin (IRS SOI 2023).
How many businesses are in Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers?
6,949 business establishments. Together they employ 38,194 workers.
What is the average payroll per employee in Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers?
$72,653/yr average annual pay per employee. Businesses average 5.5 employees per establishment.
Which states have the most Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers employment?
New York leads with 11,330 workers. California (5,767) and Florida (3,244) round out the top three.
How much SBA lending does Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers receive?
Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers businesses received 375 SBA loans totaling $182 million between FY2020 and FY2026. The average loan size was $486K. These loans supported 1,845 jobs at origination. Most lending (92%) came through the SBA 7(a) program.
Comparable industry benchmarks
These links are calculated from the current national dataset. They are comparison paths, not recommendations or evidence that businesses operate alike.
How this ranks: Its Census employment total exceeds 48% of that same 801-industry cohort. Calculated by ranking this industry's reported value against every other industry at the same NAICS digit-level, not the whole dataset: comparing a 6-digit detail industry to a 2-digit sector would mix incompatible scales.
Closest workforce scale
Same NAICS detail level, ordered by the smallest difference in reported Census employment.
- Paperboard Mills 38,290
- Mobile Food Services 38,438
- Executive Search Services 38,564
Benchmarking Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers
- No margin data, check the parent industry. Browse Wholesale Trade
- 6,949 establishments, 38,194 workers. Payroll benchmarks
- 375 SBA loans on record. SBA lending rankings
Disclaimer: Public IRS/Census data, not financial or tax advice. See our full disclaimer.
Sources: IRS Statistics of Income (SOI) Business Tax Statistics · Census Bureau County Business Patterns 2023
NAICS 423940 · Data year: 2023
According to the U.S. Census Bureau, which released its 2023 County Business Patterns dataset in June 2025, PlainBizBench benchmarks 2,002 U.S. industries against Internal Revenue Service Statistics of Income data. See our methodology for the full compilation process.
Read our methodology - how this data is sourced, computed, and verified.
Source: U.S. Census Bureau, County Business Patterns / SUSB Industry employment scale, payroll, and firm-size benchmarks · 2023
Every figure on PlainBizBench is rendered directly from federal source data, no number is typed in by an editor. This page aggregates profit-margin, payroll, entity-type, and SBA-lending benchmarks for this industry, live from the dataset. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.
Disclaimer: Public IRS/Census data, not financial or tax advice. See our full disclaimer.