Friday's U.S. jobs report will be discouraging, but don't be discouraged

  • Blog Post by: $author
  • December 6, 2012 - 1:36 PM

Analysts think tomorrow’s report will show that the economy added 80,000 jobs in November.

That’s less than half as much as in October, and the blame will go to Superstorm Sandy, simply because road closures and sustained power outages forced businesses in the northeast to shut down temporarily.

We shouldn’t read too much into the numbers, though. Company shutdowns are now a thing of the past, and disaster cleanup can act as a stimulus for a community.

Iowans have seen this with Cedar Rapids, a town that’s doing quite well after a devastating flood in 2008 thanks to a reconstruction building boom.

The effort to rebuild from Sandy should create jobs as well. Expect a bad jobs report tomorrow and sunnier predictions for the December numbers.

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