Retooling firms in Massachusetts

Article Abstract:

The Massachusetts economy has been severely affected by the cuts in US defense budget affecting not only the defense based industries but also other commercial manufacturers. Small and medium scale defense firms have been the mainstay in the state's economy. The cuts in defense expenditures have crippled these industries resulting in loss of jobs. A survey has found that between 1991 and 1992, 15,000 people have lost their jobs with another 48,000 to follow. The manufacturers have joined together to forge a strategy to address the situation. The projected strategies are discussed.

Planning, Unemployment, Massachusetts

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Staking claims to a sustainable economy

Article Abstract:

The commercial diversification of defense firms is not an easy proposition, but if done, it can uplift the U.S. economy. Industries increasingly find it difficult to effect the conversions primarily because of their limited scope and perceived notions about the continued availability of defense contracts. Some industries are experimenting with changes in specific areas at the cost of employee retrenchment due to US budget cutbacks. Providing alternative job training and converting defense bases into community centers are among the measures adopted to rehabilitate these employees.

Social aspects, Economic aspects, Defense industry, Occupational retraining

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