Posted by: coastcontact | April 25, 2013

America’s Dying Industries

Shoe Manufacturing

This comes as no surprise.  Still it hurts to see these numbers.  As you read each of these items you know the reason for the decline in business.  This was published on Huffington Post.  The reasons are as follows:

  1. The photofinishing decline was the result of the digital camera era and the sharing of photos on internet web sites.
  2. The high cost of labor now makes appliance repair more expensive than buying a new item.
  3. Advertising revenue has declined at most newspaper and magazine publications thanks to the internet and smartphones.
  4. Manufacturing of consumer products is now cheaper in most other nations of the world.

Photofinishing

Revenue decline 2002 to 2012  -70%.  $15.509 million to $897 million

Recordable Media Manufacturing

Revenue decline 2002 to 2012  -53.6%.  $4.144 billion to $3.311 billion

Money Market and Other Banking

Revenue decline 2002 to 2012  -51.2%.  Industry revenue in 2012 $834 million

DVD, Game and Video Rentals

Revenue decline 2002 to 2012  -49.6%.  Industry revenue in 2012 $5.894 billion

Newspaper Publishing

Revenue decline 2002 to 2012  -48.1%.  Industry revenue in 2012 $29.302 billion

– Women’s/Girls’ Apparel Manufacturing

Revenue decline 2002 to 2012  -57.7%.  Industry revenue in 2012 $8.603 billion

Costume/Team Uniform Manufacturing

Revenue decline 2002 to 2012  -49.9%.  Industry revenue in 2012 $986 million

Appliance Repair

Revenue decline 2002 to 2012  -44.5%.  Industry revenue in 2012 $3.684 billion

Hardware Manufacturing

Revenue decline 2002 to 2012  -44.5%.  Industry revenue in 2012 $7.484 billion

Shoe/Footwear Manufacturing

Revenue decline 2002 to 2012  -39.6%.  Industry revenue in 2012 $1.712 billion

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Responses

  1. Its up to American’s to show their ‘spunk’ to use an old fashioned word and create the jobs needed for the new ‘times’. We can’t stay rooted in yesterday and have jobs ‘for the future’ There are many ways to help, and the most important is to remove ‘corporate’ rule and influence on our government. We need to once more ‘penalize'(now they are rewarded) for all outsourcing and for paying ceo’s more than 50 times employee pay(now 350 to 1170 times) which will then not only create new jobs but pay livable wages, which in turn means people have money to spend. Will the jobs lost be back again, no, but that doesn’t mean we don’t look for new jobs to fit the times. Just my thoughts


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