| | Economic Restructuring in New York State - Federal Reserve Bank of New York (Site not responding. Last check: 2007-10-14) |
 | | By contrast, the two state downturns of the early 1980s (here treated as one "double-dip" episode) closely matched the national recessions in duration and were the least severe in recent decades, as shown by the relatively mild drops in the CEI. |
 | | Significantly, in the 1980s downturn—the one state downturn that did not outlast its national counterpart—the percentage of jobs in state industries that underwent greater structural change than their national counterparts was, at 62 percent, markedly lower than in the state downturns of the 1970s, 1990s, and 2001-03. |
 | | By contrast, during the 1980s downturn, slightly more than half of the jobs in industries whose structural adjustments exceeded those of their national counterparts were in industries that expanded—a feature that may have contributed to the relative mildness and more limited duration of this state downturn. |
| www.newyorkfed.org /research/current_issues/ci10-7/ci10-7.html (4079 words) |