Since the last big economic downturn, in the early 1990's, the bankruptcy business has changed fundamentally.

Still, economists say, even with a big national downturn, the state is in position to land softly.

The biggest downturns have been in low-wage industries like hotels and restaurants.

The biggest downturn last fall appears to have been at Random House.

Given the sharp drop in November employment, analysts had expected that manufacturing output would show a big downturn.

While the industry is thriving now, that could happen in the next big downturn, union officials say.

The domestic auto makers have done much to cut costs and improve quality in the seven years since the last big downturn.

Applications are climbing modestly after a big downturn in the mid-1990's, but they remain below the level of a decade ago.

"There is a big downturn in corporate support, season tickets, things like that."

Still, many analysts - while not predicting that a big downturn is necessarily just over the horizon - are growing increasingly concerned.