Top 10 Dying Industries in the U.S.

From the Washington Post's Wonkblog comes news of a report just out from IBISWorld that looks at 10 industries demonstrating, as the researchers put it, exceptionally sour performance in the United States. There are various reasons, from the advent of new technology to trade competition. Nevertheless, here's the list:

1. Photofinishing.
2. Newspaper publishing.
3. Appliance repair.
4. DVD, game, and video rental.
5. Money market and other banking.
6. Recordable media manufacturing.
7. Hardware manufacturing.
8. Shoe and footwear manufacturing.
9. Costume and team uniform manufacturing.
10. Womens and girls apparel manufacturing.

Though it's obvious that clothing manufacturing dominates the list, these items aren't endangered because people have stopped wearing footwear or team uniforms. It's because in the last decade clothing manufacturers have moved their plants overseas, to China, Vietnam, Indonesia, and Mexico, for no other reason than to save on labor costs. The significant number here: The average U.S. worker in girls apparel makes $33,579 a year; in Indonesia, its $1,089.

Says the Wonkblog story: "Banks, too, make an appearance. Many money-market funds and other unregulated financial firms got wiped out in the financial crisis, and IBISWorld expects noncommercial banking to keep declining in revenue in the near future -- at an average rate of 0.9 percent over the next five years."

FYI: IBISWorld is a market research organization specializing in long-range forecasting of industries and the business environment at large, with an emphasis on providing information for strategic planning and research purposes.