The crash in technology-based equities resulted in a collapse in investment in the US and Europe and opened up significant excess capacity. "For the first time for many years the central banks of the big developed countries were faced with a prospect of deflation and capital inflows. They reacted strongly by cutting interest rates radically.
Nevertheless, although nonfarm payrolls in Ohio have increased by around 400,000 jobs since the low point for the state’s employment, payrolls have yet to surpass their level just prior to the recession. Manufacturing is important to Ohio, and people here are keenly aware of the challenges that American manufacturing has faced for many years.