It is virtually in the news everywhere you look on television, in the newspapers, even on the radio. Some United States industries are becoming extinct. Companies that are in the industry business are seeing the affects of the economy. This is evident when viewing the gross domestic product. The labor force is shrinking.
Economics, being the study of goods and services: the study of the production, distribution, and consumption of goods and services has become a dreary outcome for those companies not being able to survive the economic downturn.
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The foreign competition industries are far from becoming extinct. The labor force is growing overseas. Why is this? Foreign competitions dollar value is becoming stronger. The foreign industries are not having to deal with technology and rising costs that American industries are enduring.
The economically challenged United States industries include various companies. Some of the United States industries that are becoming extinct and economically challenged include the various manufacturing industries. Included in the dying industries are the textile production companies.
Some United States industries are trying to adapt and change to survive hard economic times. Some struggles the dying industries face are of great concern to many other industries that are indirectly affected. The industries dying in the United States are struggling with a decrease in number of employees. Along with this, the economy has more than contributed to weakened income sources and industry output.
More dying industries are popping up as the economy weakens. More companies will have to adapt and turn to more profitable forms of business or fold and go out business. The economic downturn is expected to continue to reveal economically challenged companies through the year 2011, perhaps longer.
Dying industries are prevalent however there are those that will rebound. Some companies will have to adapt to new industries if wanting to stay in business and others will simply rebound. There are always ups and downs in an economy. For some American companies they will not have to worry about going extinct. These industries include the housing markets. In past time, and history usually repeats itself, the housing and financial markets have declined from time to time then promptly rebounded. Some companies can depend on cyclical downturns and upturns and remain fairly stable economically.
No one can say with out any doubt exactly what types industries will simply go extinct. When companies are able to remain flexible, grow and change to new improving markets they can become stable once again, just in a new market or perhaps a slightly altered market. Some industries will survive by supplying in niche within their industry. Some will avoid an economic disaster altogether by cutting back as needed, then going forward again when the economy stabilizes.
Projections and analysis of dying industries can be tricky in an unstable economy. In manufacturing perhaps this outcome is not so difficult to predict even for the public, the consumer.
Dying industries can change to keep their bottom line economics in place. The dying industries can diversify or expand into new types and forms of products and or services. For example, look at how the telephone companies dealt with declining land line sales. The phone companies simply expanded into the current rising market of the wireless market. Another example, videos stores. Video stores have expanded into online web services. Some industries now start the hiring process online. Bowling alleys and kids entertainment industries have expanded into providing other goods, such as food and drinks, to keep their place of business open and financially stable and somewhat successful. Even newspaper industries have taken the paper copy and made it a virtual copy, subscriptions online, not losing sales just altering the means in which their projected cash flow flows into the company. Some industries will remain a dying breed and either relocate into a different market or close business altogether because of continuing revenue loss and the high costs of maintaining a business. The industries that keep up with the changing times will survive and perhaps even thrive more when the economy stabilizes once again.
Industries Dying in the United States
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