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 ...
The first four years were Bush’s fault. The next four years will be billed as Sandy’s fault.