industry decline
Business sector weakening
Industry decline is the sustained contraction of a business sector—shrinking revenues, falling employment, and reduced output over time.
Industries decline when technology makes them obsolete, consumer preferences shift, or cheaper alternatives emerge: The industry decline of print newspapers accelerated with the rise of digital media.
Companies in declining industries face difficult choices about adaptation or exit.
- layoffsMass job eliminations
- pink slipsEmployment termination documents
- globalizationWorldwide economic and cultural integration
- diversificationExpanding into varied areas
- urban decayCity infrastructure deterioration
job losses · retraining programs · unemployment · factory closures · market saturation · corporate restructuring · automation · assembly line · social unrest · competition · resource depletion · economic recession · economic downturn · environmental degradation · policy reform · economic inequality · downsizing · offshoring
- unemploymentunemployment, unemployed, jobless, joblessness, unemployment rate
- career problemsunderemployment, overqualification, skills gap, job displacement, career stagnation
- New BrunswickFredericton, Saint John, Acadians, bilingualism, provincial politics
industry declineindustry growth
Economic expansion of sector
economic boom · market expansion · economic expansion · bull market · market growth
industry, decline, industrial, industrious, industrialize, industrialization, industrially, industries, industrialist