However, while the offshore fishery was prospering, the inshore fishermen found their catches dropping off. In 1992 the Canadian government responded by closing the Grand Banks to groundfishing. Newfoundland’s cod fishing and processing industries were shut down in a bid to let the vanishing stocks recover. The moratorium was extended in 1994, when all of the Atlantic cod fisheries in Canada were closed, except for one in Nova Scotia, and strict quotas were placed on other species of groundfish. Canada’s cod fishing industry collapsed, and around 40,000 fishers and other industry workers were put out of work.