The Major Setback Faced by Boeing Due to the Global Energy Crisis
The Oil Crisis of 1970s led to another economic downturn in Seattle. The city faced a major setback as a result of this economic downturn. Several people also lost their jobs. There was a heavy reliance of Seattle on Boeing as that was one of the primary employers of Seattle. Boeing also suffered tremendous economic setback and the company also had one of the worst recovery in employment post economic depression.
http://en.wikipedia.org/wiki/Boeing
However, a quick uptrend was seen in the city as the workforce was highly educated. Boeing also recovered from the different effects of the energy crisis. The diversification of Seattle had also started. There were different technology companies that came to Seattle. Boeing also started recovering slowly and steadily.
