Industrial restructuring in the New York Metropolitan Area.(paper at 'The Metropolitan Economy in the National and World Arenas' conference, Federal Reserve Bank of New York)

Federal Reserve Bank of New York Economic PolicyReview | February 1, 1997| | Copyright

Industrial restructuring is the ongoing process of reallocating workers among jobs in the economy as industries expand and contract. The New York metropolitan area economy underwent a significant amount of restructuring during the first half of the 1990s as a variety of factors--including new products, increased competition from other areas, and deregulation and fiscal problems--caused area firms and entire segments of industries to make permanent adjustments to employment levels. Downsizings, the sharp reductions in staffing by firms, were a prominent feature of the ...

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