New Zealand's leap into the neoliberalist global economy exposed both businesses and the wider workforce to the unregulated predatory practices of private capital - this led to a decade of insignificant (and sometimes negative) growth with the "economic miracle" being experienced by only a relatively small proportion of the population. With no restrictions on overseas money coming into the country the focus in the economy shifted from the productive sector to finance. Finance capital outstripped industrial capital and redundancies occurred in manufacturing industry; approximately 76,000 manufacturing jobs were lost between 1987 and 1992. The new state-owned enterprises created from 1 April 1987 began to shed thousands of jobs adding to unemployment: Electricity Corporation 3,000; Coal Corporation 4,000; Forestry Corporation 5,000; New Zealand Post 8,000. The newly unfettered business environment created by the deregulation of the financial sector, David Grant writes, left New Zealanders "easy targets for speculators and their agents", exacerbating the effects of the October 1987 stock market crash.