Skip to comments.Sandy washed away job market gains
Posted on 11/26/2012 5:07:03 AM PST by John W
It takes a lot to knock the U.S. economy off course.
One month after being clobbered by the largest storm ever recorded in the North Atlantic, its becoming a little clearer just how big an economic impact Superstorm Sandy is having.
As the cleanup of visible damage continues around his office in lower Manhattan, Brian Drum is tallying up the damage to the job market.
Hiring has slowed down tremendously its almost like its come to a halt, said Brian Drum, CEO of Drum Associates, an executive recruiting firm. The jobs seem to be open, and the inventory seems to be available in terms of competent people. But companies are not making decisions.
To be sure, there are other reasons for the pause in hiring decisions. Even before the storm hit, the ongoing recession in Europe and slower growth in China has brought a coordinated slowdown in the global economy. The November election did little to break the political gridlock over the federal budget and tax policy.
(Excerpt) Read more at nbcnews.com ...
IT is OBAMA and OBAMACARE!!!!!.......
The Soviet Union suffered from 70 years of ‘drought’ - a weird malaise that only affected crop-production within the political boundaries of the USSR.
It will be the same for the US, but the absurdity will be heightened because *all* the failures of American Socialism for the next four years will be blamed on one CAT 1 storm.
Leftists may pray for more natural disasters like Sandy then, so they can wipe away all past and future Leftists’ failure.
/Hint: it works for Leftists ONLY
Yes, precisely. The reality is that when there are natural disasters like this work is often created. Construction jobs to rebuild. People buying generators and having electrical work done. Tree cutting and removal. Etc. etc. I’m not saying storms are an economic plus, but in a thriving economy they are not a knockout blow. If finger pointing and blame shifting were computed into the GDP our numbers would be looking really good right now.
I would hope there is someone more able than I am who could check the job market losses after the other big hurricanes.
A far bigger impact of Superstorm Sandy, is that for a few days at least, it made Bronco Bama LOOK presidential, while virtually denying Mitt Romney opportunity to make any kind of last-minute appeal to reason about the shortcomings of the failed regime of the Current Occupant.
‘Tis an ill wind....
Because once re-elected, The Won never has to lift a finger to help the victims of Sandy. He has sloughed off all the recovery efforts to the states themselves, as he has much bigger fish to fry, and they were going to vote for him no matter what.
Sandy’s fault (palm to forehead)
Short term loss and long term gain in most cases.....
“With so many businesses closed, many of the roughly 10 million workers in coastal counties were tossed out of work. On Wednesday, the government reported that more than 75,000 workers filed a new unemployment claim last week in New York, New Jersey and Connecticut, mostly in the construction, food service and transportation industries.”
construction seems crazy. precisely the skills needed.
FEMA just got a bundle of cash and they are hiring temps tp do clanup.
The b*tch set us up!
1938 September - New England Hurricane of 1938 - Strong Category 3. Wind gusts reached Category 5 strength in eastern Connecticut, Rhode Island and southern Massachusetts west of Buzzards Bay and Cape Cod. The anemometer at the Blue Hill Observatory registered a peak wind gust of 186 m.p.h. before the instrument broke. The hurricane lost strength as it tracked into interior areas of New England, but it is believed to have been at Category 2 intensity as it crossed into Vermont and at minimal Category 1 intensity as it tracked into Quebec. The storm killed over 600 people and is considered to be the worst hurricane to strike New England in modern times.
This presupposes that there WERE job market gains.
I do not recollect any.
I remember the Ugandan Bus accidents that killed 500.
ah... those annoying facts the left likes to ignore :)
The first four years were Bush’s fault. The next four years will be billed as Sandy’s fault.