Hurricane Sandy's effect on the nation's unemployment figures was less pronounced than expected. The reasons are complex, but one thing is clear: Thousands of victims are still struggling to rebuild their lives and get back to work.
Danielle Siekierski was tending bar at a restaurant in Manhattan's Meatpacking District before Sandy hit. When the restaurant was damaged in the storm, the workers were told it might be a week before it reopened.
Originally published on Wed December 12, 2012 12:56 pm
By Jacob Goldstein
Warm around the ears.
Credit Brendan Smialowski / AFP/Getty Images
The leaders of the Federal Reserve just did something that sounds boring but is actually a big deal: They promised to keep short-term interest rates at zero at least until the unemployment rate falls below 6.5 percent, or inflation rises to over 2.5 percent.
It's clear on its face why this sounds boring. It takes a little doing to explain why it's a big deal.
This is WEEKEND EDITION, from NPR News. I'm Scott Simon. Turns out that Superstorm Sandy didn't do as much damage as many expected, to the nation's unemployment predicament. At least, that's what the government's monthly data on the jobs market told us yesterday. As NPR's John Ydstie reports, analysts and businesses are already looking past that report, to the dangers to jobs posed by the fiscal cliff.
From NPR News, this is ALL THINGS CONSIDERED. I'm Melissa Block.
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And I'm Audie Cornish.
The nation's unemployment rate fell to 7.7 percent in November, that's the lowest it's been in four years. The Labor Department's latest jobs report released this morning showed employers added more jobs than expected.
But as NPR's Jim Zarroli reports, economists warn these new numbers aren't what they appear to be.