Journal Article

Economic restructuring in New York State


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: Employment - New York (State); Labor market - New York (State); Industries - New York (State); Federal Reserve District, 2nd;

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Provider: Federal Reserve Bank of New York

Part of Series: Current Issues in Economics and Finance

Volume: 10

Issue: Jun

Order Number: 7