The Ten American Industries Which Will Never Recover
As a result of research performed by 24/7 Wall St., there appears to be several sectors of the economy that have been so severely damaged by the economic collapse that they are in jeopardy of never recovering. If other healthier sectors are unable to absorb these losses, then real recovery efforts for the US economy will certainly be hampered.
One obvious sector that has been severely hurt is the domestic auto industry. Due to increased global competition, the jobs in this industry have been shrinking over the past decade and that trend is predicted to continue.
The second big sector to be hit is commercial and residential building, which has undergone massive layoffs due to the rise in inventory from defaults as well as the downward pressure on pricing that has depressed real estate values.
These are 10 Industries that will not likely recover:
1. State and local government
2. Construction.
3. Installation and Maintenance Services
4. Auto Industry
5. Pharma
6. Large Telecommunications Providers
7. Newsprint Media
8. Airlines
9. Real Estate
10. Walk-up Bank Tellers
source: axisoflogic
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In: Business Stories · Tagged with: Airlines, American Employment, Bank Tellers, Bureau Of Labor, Bureau Of Labor Statistics, Car Sales, Decade, Domestic Auto Industry, Domestic Car, Downward Pressure, Economic Collapse, Employment Situation Summary, Example California, Foreseeable Future, Global Competition, Global Jobs, Home Construction, Inventories, Jeopardy, Light Vehicles, Local Government Jobs, Losses, Maintenance Services, Mass Layoffs, Massive Layoffs, National Governors Association, Newsprint, Number Of States, Private Industry, Real Estate Values, Recession, Recovery Efforts, Residential Building, Salary Information, Sectors Of The Economy, State And Local Government, State Budget Officers, Tax Receipts, Telecommunications Providers
