Economic restructuring in New York State

Erica Groshen, Simon Potter and Rebecca Sela ()

Current Issues in Economics and Finance, 2004, vol. 10, issue Jun

Abstract: When economic activity slows down, labor markets may undergo extensive structural change-the permanent reallocation of workers across industries. Job losses can be heavy, and creating new jobs and retraining displaced workers to fill them can take time. A high degree of restructuring may help to explain why New York State's most recent downturn persisted for well over two years. Subseries: Second District Highlights.

Keywords: Federal Reserve District, 2nd; Labor market - New York (State); Industries - New York (State); Employment - New York (State) (search for similar items in EconPapers)
Date: 2004
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