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Democratic Strategist Christian Dorsey, of the Economic Policy Institute, weighs in on Hurricane Sandy’s potential impact on Friday’s jobs report,...
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Release of Friday's unemployment report the final jobs number before the election being threatened right now by hurricane sandy Christian Dorsey an Economic Policy Institute.
-- -- -- -- you know with the election only eight days away yeah I'm curious if we do get some type of delay in a jobs report that's going to be a game changer for the race.
You know Sherlock I don't think so I think a lot of people what's what's gonna be cemented in their mind is what -- heard last month seven point 8% with.
Friday's release coming just right before the election or get out the vote efforts -- in full swing I'm not sure would have had.
That big of an impact but that said.
I'm sure both sides were looking forward to.
Whatever the number was trying to capitalize on it for political reasons so this may in fact change a lot of the other ground strategy in the last few days.
These are playing the race is tight on many fronts but the -- when it comes to the economy we just got third quarter GDP 2% that is not -- growth Christian as you know.
-- -- eleven point 9% unemployment as the rate Friday if we get it so at this point the economy not stable enough and I got the potential impact.
Economic impact of sandy.
Yes I mean you know this is this is a huge deal not only further the many people affected -- -- -- storm swap as are you all I hope you'll stay safe as.
As does everyone watching.
But this really changes the political.
Conversation over the course -- next week a lot of what the campaigns were planning is likely thrown up in the air.
So -- you know while I don't know if this necessarily benefits one side or the other it's certainly going to change a lot of what they were planning to do.
You know you -- economist Christian and have leaned on you for years I wanna do it again right now I'm looking at.
You economic impact estimates four say it is a rare preliminary because I was the storm is still coming but I'm looking at 3540 billion dollars.
I know the many economists try to get our -- around what does this mean for airlines ship being.
Retail small business all of that I mean how long and it is gonna take for us to get a real sense of the damage the economy.
You know I it's I think we're gonna get a real sense in the next month or two in terms of what the immediate -- damages but.
You know I think we need to to keep in mind that out this storm has the potential to be so catastrophic in terms of -- thousands of dollars that.
Homeowners for example may have to spend on repairs or insurance deductibles what's this going to do in the quarter ahead with the holiday shopping season for example.
This could be not just an immediate economic does circumstance this could be one.
That takes as well through the end of the year and into early next.
-- you know Chris I was looking at some of the insurance and reinsurance companies that there were trading over in Europe this morning and they were down substantially as were the financial side I think -- something.
To be set about -- -- -- -- and Kristen -- thank you very much Christian.
