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Economic TurbulenceIs a Volatile Economy Good for America?$
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Clair Brown, John Haltiwanger, and Julia Lane

Print publication date: 2006

Print ISBN-13: 9780226076324

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226076348.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 27 September 2021

The Industries

The Industries

(p.23) Chapter Three The Industries
Economic Turbulence

Clair Brown

University of Chicago Press

This chapter surveys the economic change sweeping five industries—financial services, semiconductors, software, retail food, and trucking—specifically taking the work of experts in each industry, who have spent their careers talking directly to businesses, and sketching out an overview of the workforce of the five industries. It then discusses the events that have buffeted each of them. The banking industry has gradually become a workplace for higher-skilled workers, as the proportion of workers in higher-educated and higher-paying occupations has increased while the proportion in lower-paying positions has decreased. The labor market structure in the trucking industry is very different from those in the other industries. Technological change and globalization played an important role in the evolution of software industry. The typical food retailer maintains a hierarchical and centralized approach to labor. It is suggested that the five industries discussed in the chapter constitute a microcosm of the broader economy.

Keywords:   financial services, semiconductors, software, retail food, trucking, banking industry, labor market, globalization

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