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Finance and Economics Discussion Series: 2008-43 Screen Reader version ♣

The Causes and Consequences of Economic Restructuring: Evidence from the Early 21^{ST} Century


Andrew Figura and William Wascher

Board of Governors of the Federal Reserve System

August 2008



Figure 1: Emplyment in Restructuring Industries (thousands)
Industryinddateee
Nonrestructuring999999199081656
Nonrestructuring999999199180507
Nonrestructuring999999199281020
Nonrestructuring999999199382890
Nonrestructuring999999199485380
Nonrestructuring999999199587810
Nonrestructuring999999199689881
Nonrestructuring999999199792288
Nonrestructuring999999199895054
Nonrestructuring999999199997538
Nonrestructuring999999200099200
Nonrestructuring999999200199289
Nonrestructuring999999200298981
Nonrestructuring999999200399228
Nonrestructuring9999992004100900
Nonrestructuring9999992005103070
Restructuring111111199013268
Restructuring111111199112887
Restructuring111111199212774
Restructuring111111199312859
Restructuring111111199413137
Restructuring111111199513482
Restructuring111111199613700
Restructuring111111199714066
Restructuring111111199814401
Restructuring111111199914698
Restructuring111111200015356
Restructuring111111200114741
Restructuring111111200213590
Restructuring111111200312878
Restructuring111111200412655
Restructuring111111200512547
Paper Manufacturing3221990646
Paper Manufacturing3221991634
Paper Manufacturing3221992632
Paper Manufacturing3221993629
Paper Manufacturing3221994631
Paper Manufacturing3221995636
Paper Manufacturing3221996630
Paper Manufacturing3221997630
Paper Manufacturing3221998621
Paper Manufacturing3221999611
Paper Manufacturing3222000608
Paper Manufacturing3222001579
Paper Manufacturing3222002542
Paper Manufacturing3222003516
Paper Manufacturing3222004495
Paper Manufacturing3222005484
Printing3231990842
Printing3231991819
Printing3231992807
Printing3231993810
Printing3231994823
Printing3231995835
Printing3231996831
Printing3231997832
Printing3231998835
Printing3231999828
Printing3232000830
Printing3232001784
Printing3232002724
Printing3232003695
Printing3232004678
Printing3232005664
Chemical Manufacturing32519901001
Chemical Manufacturing3251991996
Chemical Manufacturing3251992997
Chemical Manufacturing3251993990
Chemical Manufacturing3251994983
Chemical Manufacturing3251995981
Chemical Manufacturing3251996977
Chemical Manufacturing3251997984
Chemical Manufacturing3251998986
Chemical Manufacturing3251999978
Chemical Manufacturing3252000986
Chemical Manufacturing3252001959
Chemical Manufacturing3252002928
Chemical Manufacturing3252003907
Chemical Manufacturing3252004888
Chemical Manufacturing3252005876
Plastics and Rubber Products Manufacturing3261990790
Plastics and Rubber Products Manufacturing3261991767
Plastics and Rubber Products Manufacturing3261992791
Plastics and Rubber Products Manufacturing3261993822
Plastics and Rubber Products Manufacturing3261994864
Plastics and Rubber Products Manufacturing3261995893
Plastics and Rubber Products Manufacturing3261996901
Plastics and Rubber Products Manufacturing3261997920
Plastics and Rubber Products Manufacturing3261998943
Plastics and Rubber Products Manufacturing3261999939
Plastics and Rubber Products Manufacturing3262000959
Plastics and Rubber Products Manufacturing3262001893
Plastics and Rubber Products Manufacturing3262002845
Plastics and Rubber Products Manufacturing3262003817
Plastics and Rubber Products Manufacturing3262004806
Plastics and Rubber Products Manufacturing3262005802
Primary Metal Manufacturing3311990672
Primary Metal Manufacturing3311991641
Primary Metal Manufacturing3311992615
Primary Metal Manufacturing3311993602
Primary Metal Manufacturing3311994611
Primary Metal Manufacturing3311995624
Primary Metal Manufacturing3311996624
Primary Metal Manufacturing3311997626
Primary Metal Manufacturing3311998630
Primary Metal Manufacturing3311999617
Primary Metal Manufacturing3312000624
Primary Metal Manufacturing3312001571
Primary Metal Manufacturing3312002506
Primary Metal Manufacturing3312003475
Primary Metal Manufacturing3312004467
Primary Metal Manufacturing3312005465
Computer and Electronic Product Manufacturing33419901867
Computer and Electronic Product Manufacturing33419911773
Computer and Electronic Product Manufacturing33419921675
Computer and Electronic Product Manufacturing33419931634
Computer and Electronic Product Manufacturing33419941624
Computer and Electronic Product Manufacturing33419951672
Computer and Electronic Product Manufacturing33419961732
Computer and Electronic Product Manufacturing33419971779
Computer and Electronic Product Manufacturing33419981809
Computer and Electronic Product Manufacturing33419991757
Computer and Electronic Product Manufacturing33420001813
Computer and Electronic Product Manufacturing33420011752
Computer and Electronic Product Manufacturing33420021500
Computer and Electronic Product Manufacturing33420031354
Computer and Electronic Product Manufacturing33420041318
Computer and Electronic Product Manufacturing33420051311
Electrical Equipment, Applicand and Component Manufacturing3351990608
Electrical Equipment, Applicand and Component Manufacturing3351991572
Electrical Equipment, Applicand and Component Manufacturing3351992564
Electrical Equipment, Applicand and Component Manufacturing3351993561
Electrical Equipment, Applicand and Component Manufacturing3351994574
Electrical Equipment, Applicand and Component Manufacturing3351995584
Electrical Equipment, Applicand and Component Manufacturing3351996581
Electrical Equipment, Applicand and Component Manufacturing3351997582
Electrical Equipment, Applicand and Component Manufacturing3351998586
Electrical Equipment, Applicand and Component Manufacturing3351999582
Electrical Equipment, Applicand and Component Manufacturing3352000595
Electrical Equipment, Applicand and Component Manufacturing3352001554
Electrical Equipment, Applicand and Component Manufacturing3352002498
Electrical Equipment, Applicand and Component Manufacturing3352003460
Electrical Equipment, Applicand and Component Manufacturing3352004446
Electrical Equipment, Applicand and Component Manufacturing3352005436
Furniture Manufacturing3371990624
Furniture Manufacturing3371991584
Furniture Manufacturing3371992578
Furniture Manufacturing3371993592
Furniture Manufacturing3371994611
Furniture Manufacturing3371995611
Furniture Manufacturing3371996607
Furniture Manufacturing3371997619
Furniture Manufacturing3371998637
Furniture Manufacturing3371999658
Furniture Manufacturing3372000690
Furniture Manufacturing3372001647
Furniture Manufacturing3372002607
Furniture Manufacturing3372003576
Furniture Manufacturing3372004573
Furniture Manufacturing3372005569
Miscellaneous Manufacturing3391990703
Miscellaneous Manufacturing3391991694
Miscellaneous Manufacturing3391992690
Miscellaneous Manufacturing3391993697
Miscellaneous Manufacturing3391994707
Miscellaneous Manufacturing3391995712
Miscellaneous Manufacturing3391996718
Miscellaneous Manufacturing3391997727
Miscellaneous Manufacturing3391998740
Miscellaneous Manufacturing3391999745
Miscellaneous Manufacturing3392000765
Miscellaneous Manufacturing3392001736
Miscellaneous Manufacturing3392002708
Miscellaneous Manufacturing3392003685
Miscellaneous Manufacturing3392004674
Miscellaneous Manufacturing3392005670
Air Transportation4811990501
Air Transportation4811991497
Air Transportation4811992484
Air Transportation4811993488
Air Transportation4811994491
Air Transportation4811995495
Air Transportation4811996513
Air Transportation4811997533
Air Transportation4811998554
Air Transportation4811999581
Air Transportation4812000611
Air Transportation4812001616
Air Transportation4812002562
Air Transportation4812003527
Air Transportation4812004514
Air Transportation4812005500
Publishing5111990895
Publishing5111991870
Publishing5111992865
Publishing5111993888
Publishing5111994901
Publishing5111995928
Publishing5111996942
Publishing5111997965
Publishing5111998999
Publishing51119991028
Publishing51120001083
Publishing51120011063
Publishing5112002998
Publishing5112003952
Publishing5112004936
Publishing5112005939
Motion Picture and Sound Recording5121990298
Motion Picture and Sound Recording5121991299
Motion Picture and Sound Recording5121992300
Motion Picture and Sound Recording5121993292
Motion Picture and Sound Recording5121994314
Motion Picture and Sound Recording5121995348
Motion Picture and Sound Recording5121996376
Motion Picture and Sound Recording5121997399
Motion Picture and Sound Recording5121998381
Motion Picture and Sound Recording5121999391
Motion Picture and Sound Recording5122000393
Motion Picture and Sound Recording5122001375
Motion Picture and Sound Recording5122002393
Motion Picture and Sound Recording5122003382
Motion Picture and Sound Recording5122004390
Motion Picture and Sound Recording5122005382
Broadcasting and Telecommunications51319901252
Broadcasting and Telecommunications51319911229
Broadcasting and Telecommunications51319921201
Broadcasting and Telecommunications51319931212
Broadcasting and Telecommunications51319941230
Broadcasting and Telecommunications51319951254
Broadcasting and Telecommunications51319961286
Broadcasting and Telecommunications51319971360
Broadcasting and Telecommunications51319981414
Broadcasting and Telecommunications51319991488
Broadcasting and Telecommunications51320001609
Broadcasting and Telecommunications51320011640
Broadcasting and Telecommunications51320021507
Broadcasting and Telecommunications51320031402
Broadcasting and Telecommunications51320041355
Broadcasting and Telecommunications51320051323
Information and data processing services5141990283
Information and data processing services5141991290
Information and data processing services5141992296
Information and data processing services5141993302
Information and data processing services5141994309
Information and data processing services5141995328
Information and data processing services5141996353
Information and data processing services5141997376
Information and data processing services5141998405
Information and data processing services5141999467
Information and data processing services5142000555
Information and data processing services5142001536
Information and data processing services5142002484
Information and data processing services5142003449
Information and data processing services5142004433
Information and data processing services5142005436
Textiles Manufacturing31341990720
Textiles Manufacturing31341991689
Textiles Manufacturing31341992683
Textiles Manufacturing31341993684
Textiles Manufacturing31341994692
Textiles Manufacturing31341995683
Textiles Manufacturing31341996658
Textiles Manufacturing31341997650
Textiles Manufacturing31341998638
Textiles Manufacturing31341999609
Textiles Manufacturing31342000600
Textiles Manufacturing31342001538
Textiles Manufacturing31342002487
Textiles Manufacturing31342003446
Textiles Manufacturing31342004417
Textiles Manufacturing31342005389
Motor Vehicle Manufacturing336119901112
Motor Vehicle Manufacturing336119911048
Motor Vehicle Manufacturing336119921077
Motor Vehicle Manufacturing336119931102
Motor Vehicle Manufacturing336119941180
Motor Vehicle Manufacturing336119951229
Motor Vehicle Manufacturing336119961218
Motor Vehicle Manufacturing336119971236
Motor Vehicle Manufacturing336119981259
Motor Vehicle Manufacturing336119991303
Motor Vehicle Manufacturing336120001319
Motor Vehicle Manufacturing336120011210
Motor Vehicle Manufacturing336120021153
Motor Vehicle Manufacturing336120031116
Motor Vehicle Manufacturing336120041116
Motor Vehicle Manufacturing336120051100
Computer Systems design and related services54151990454
Computer Systems design and related services54151991485
Computer Systems design and related services54151992519
Computer Systems design and related services54151993554
Computer Systems design and related services54151994592
Computer Systems design and related services54151995669
Computer Systems design and related services54151996753
Computer Systems design and related services54151997848
Computer Systems design and related services54151998964
Computer Systems design and related services541519991116
Computer Systems design and related services541520001316
Computer Systems design and related services541520011288
Computer Systems design and related services541520021148
Computer Systems design and related services541520031119
Computer Systems design and related services541520041149
Computer Systems design and related services541520051201
Return to Figure 1


Figure 2
dateresProductivity relative to trend
1991Nonrestructuring0.2233009
1992Nonrestructuring1.574228
1993Nonrestructuring0.5535219
1994Nonrestructuring0.086676
1995Nonrestructuring-1.181656
1996Nonrestructuring-1.038164
1997Nonrestructuring-0.3225066
1998Nonrestructuring-0.2559923
1999Nonrestructuring-0.2166748
2000Nonrestructuring7.45E-07
2001Nonrestructuring0.741826
2002Nonrestructuring1.008571
2003Nonrestructuring2.321082
1991Restructuring-1.97247
1992Restructuring0.0610895
1993Restructuring0.4559293
1994Restructuring1.907828
1995Restructuring-2.123293
1996Restructuring-1.839411
1997Restructuring-2.474281
1998Restructuring-1.263815
1999Restructuring1.707211
2000Restructuring0
2001Restructuring-3.970331
2002Restructuring3.145975
2003Restructuring6.589633
Return to Figure 2


Figure 3
dateresLabor share
1991Nonrestructuring0
1992Nonrestructuring0
1993Nonrestructuring0
1994Nonrestructuring0
1995Nonrestructuring0
1996Nonrestructuring0
1997Nonrestructuring0
1998Nonrestructuring2.627618
1999Nonrestructuring3.092098
2000Nonrestructuring4.387675
2001Nonrestructuring3.37623
2002Nonrestructuring2.780955
2003Nonrestructuring1.648594
1991Restructuring0
1992Restructuring0
1993Restructuring0
1994Restructuring0
1995Restructuring0
1996Restructuring0
1997Restructuring0
1998Restructuring2.39247
1999Restructuring4.837652
2000Restructuring10.99175
2001Restructuring12.27118
2002Restructuring6.959374
2003Restructuring6.778985
Return to Figure 3
♣ This version is optimized for use by screen readers. Descriptions for all mathematical expressions are provided in LaTex format. A printable pdf version is available. Return to Text
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Last update: September 8, 2008