Prof. David Backus on the manufacturing and housing job sectors
December 07, 2012
Excerpt from the Huffington Post -- "'Manufacturing and housing are the most cyclical sectors of the economy,' said David Backus, chair of the economics department at NYU's Stern School of Business. 'What you see in a typical recession is that they're going to go down a lot and then they're going to go back up a lot. The latter hasn't happened yet.'"