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Is the Rust Belt's Revival Real?

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The Great Lakes region was battered in the 1970s and early 1980s by a number of structural and cyclical adjustments. Heavy industry retrenched, manufacturing jobs were slashed by the thousands, and many factories were permanently closed. So severe were the economic woes felt here that the region became known nationwide as the Rust Belt, an area seemingly destined to suffer a continuing downward spiral in relative employment levels and living standards.

The Great Lakes region was battered in the 1970s and early 1980s by a number of structural and cyclical adjustments. Heavy industry retrenched, manufacturing jobs were slashed by the thousands, and many factories were permanently closed. So severe were the economic woes felt here that the region became known nationwide as the Rust Belt, an area seemingly destined to suffer a continuing downward spiral in relative employment levels and living standards.


Suggested citation: Anderson, Gerald H., 1992. "Is the Rust Belt's Revival Real?" Federal Reserve Bank of Cleveland, Economic Commentary, 03.01.1992.

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