log insign updeclining industries
noun
- A sector of the economy that experiences a continuous decrease in demand, often leading to reduced revenue, job losses, and business closures; typically characterized by aging technologies, outdated business models, or shifts in consumer preferences.
Many workers in declining industries are facing challenges as their skills become less relevant in a rapidly changing job market.
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Discussion
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The phrase ‘declining industries‘ refers to sectors of the economy that are experiencing a reduction in demand, production, or profitability. While ‘declining industries‘ is not a single word, the term has developed within the context of economic discourse to convey a specific meaning.
The etymology of the term can be traced to developments in the fields of economics and business management. The word ‘declining‘ comes from the Latin ‘declinare,‘ meaning ‘to turn aside‘ or ‘to bend down,‘ which evolved through Middle English into the modern usage reflecting a decrease or reduction in status or condition.
The term ‘industries‘ originates from the Latin ‘industria,‘ meaning ‘diligence, activity, or skill,‘ which passed through Old French to refer to systematic production or economic activity involving manufacturing or services.
Together, ‘declining industries‘ embodies the notion of economic sectors that are becoming less active or less productive, rooted in the evolution of language around economic conditions and business practices.
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