Although some economic indicators may be slowly improving, some industries are still struggling to recover, according to a survey by industry research firm IBISWorld.

The survey finds that the top dying industries, which are defined by a declining life cycle stage, a decline in revenue and industry participants between 2002 and 2012 and continued declines in these metrics through 2017, are women and girls' apparel manufacturing; costume and team uniform manufacturing; shoe and footwear manufacturing; hardware manufacturing; recordable media manufacturing; newspaper publishing; money market and other banking; DVD, game and video rental; appliance repair; and photofinishing.

As several manufacturing sectors are included on this list of dying industries, the report finds this is largely due to offshoring and outsourcing, which have hit these sectors hard. Employers within the manufacturing sectors have had to move production facilities overseas to China, Vietnam, Indonesia, Mexico and Central America.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.