Job Losses Blamed on the Weather

This is new. Goldman Sachs says the blizzards in February kept employers and prospective employees from getting to the office. That makes sense. Goldman Sachs bases their claim on the 1996 snow storms that pummeled the East Coast. Further, the report claims the current 9.7% unemployment rate will be bumped up to 10% when Friday's news hits. However, that 3% translates into 100,000 job losses because of the storms, alone. 100,000 people might have gotten jobs? That seems like an awful lot of folks, but I guess when you think there are roughly 200 million people in the labor force, a hundred large isn't so many? Apparently, we will see the tide turn when the weather warms up, as is forecast this week. It'll be interesting to see if that pans out. Otherwise, as the article notes, the Democrats are going to have it even tougher in the November mid-term elections.