NJ Employment Hurt Hardest by Sandy

The entire region took a major employment hit after Sandy hit in late October, but it looks like New York has begun to recover while New Jersey is still in the throes of a significant storm-related downturn.

Here's a chart from Steven Bronars of the growth in New York's new jobless claims for just before and the weeks after Sandy, with a major spike after and then by November 17th a return to lower numbers.

Then there's New Jersey which shows the same rapid increase after the storm, but no return to the norm afterwards.

My only guess as to why New Jersey is having a slower employment recovery is that we live where we work, so if our homes are destroyed so are our jobs.  Maybe -- and it's only a maybe -- in New York the devastation was localized to residences and the locales with jobs themselves were quicker to recover.  

I'd love to get opinions from others on why they would see this.

Bronars estimates that New Jersey's unemployment for November will reach an astonishing eleven percent, which is amazing.  But it's also possible that we simply had an extra week and things will return to norm soon for us as well.

Go to NJ State Page
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