AEROSPACE

Aerospace Industry’s Profits Down 20% in ‘95: Profit, sales and employment levels all dropped for the U.S. industry this year, said Don Fuqua, president of the Aerospace Industries Assn. Profits fell to $4.5 billion, after achieving a record high $5.6 billion last year. Sales, affected by shrinking defense budgets, fell for a fourth consecutive year to $107 billion, down from $111.2 billion a year ago. Employment levels fell for a sixth straight year. There were 778,000 jobs this year, 49,000 fewer than in ’94. The military and civil aircraft sectors suffered the biggest declines, losing a combined 33,000 jobs. Aerospace employment has declined 42% since 1989; the association predicts 15,000 jobs will be lost in ’96.