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Author: vernier

Maybe Sandy did hurt the job market

“Jobless Claims in U.S. Jumped Last Week After Sandy” (Bloomberg): Unemployment benefit applications jumped from 78,000 to 439,000 after Sandy. This is a result of both the physical inability of people to file claims during the storm and also a repercussion of the storm itself. Forecasters were anywhere between 300,000 to 450,000 and claim there are several other factors affecting the rise in filings, but the main cause is the storm and its electricity outages.