For those still suffering with painful losses from Sandy, it’s a bit to early to look for silver linings. But for the legions of construction workers who’ve found themselves in limbo since the housing bubble popped, it’s worth noting that a spike in hiring is likely on the way. Construction employment was stronger in the jobs report this morning than it had been since the beginning of the year, but the impact of Sandy won’t be seen in the numbers yet. But if you go by what happened after Katrina slammed into southern states like Louisiana, Mississippi and Alabama, the check is in the mail. Here’s gross construction hiring in Louisiana, both seasonally-adjusted (SA) and not.
And while the spike in job gains was quick, a lot of these jobs as a whole seemed to stick around in Louisiana, at least until the crisis hit.
But it’s also true that New York and New Jersey could really use a few construction jobs (see below). And in this economy, where it seems politically impossible for the Federal government to push through—or even talk about—any kind of fiscal stimulus, every new job that opens up for these people is a good thing, even if it results from a very bad thing.