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Vol. 76, No. 5
Posted 1994-09-01

Job Creation and Destruction: The Dominance of Manufacturing

by Joseph Ritter

Estimates of gross job creation and destruction give a deeper perspective on the ebb and flow of labor markets than the headline-grabbing announcements of net employment growth. Overall employment growth may be the result of lots of job creation cancelling much of the job destruction—or only a little of each. Joseph A. Ritter examines how patterns of job creation and destruction vary between goods-producing and service industries. He finds that manufacturing and other goods-producing industries have contributed disproportionately to changes in overall job creation and destruction, particularly during recessions, but that this pattern may have changed recently.

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