The economy has affected companies and industries across America over the past years, including areas that we both never expected would drop, along with sectors that we never realized were so important. One of these industries is the scrap-metal sector. Scrap-metal, according to the Wall Street Journal, is the primary source of metal used to create steel in America. 60% of steel in America comes from recycled metal, which is substantially higher than China and other competing markets that sit at about 10%. We have succeeded in recycling! Although this is great news, the scrap-metal market has dropped to an all time low and is continuing to be worse and worse off.
This issue is one that is usually over-looked and may appear to be unimportant. Although we feel this way, this is just another sign that the economy is not improving. “The sector is made up of small and medium size businesses” says the Wall Street Journal, and it is this way because of the personal relationships that are gained through collection and distribution of scrap-metal. The economy has already pushed out 50 of these small and medium sized companies just this year!
The concern that came to my mind is that since the economy is going downhill still, it is forcing small companies to close and more workers flock to larger corporations. Without small companies able to function in small markets in suburbs and rural areas, people are having to abandon their homes and move towards the city. Overall, America is changing. By relating this small event involving the scrap-metal industry to the economy as a whole, one can infer these changes, causing more concern for the future to come.
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