I was waiting for some enterprising conservative to make the argument that global warming improved the jobs landscape, because it turned certain industries like construction into more year-round pursuits. Of course, to make that argument, they’d have to acknowledge the existence of global warming. But they would have been missing what happens after the catch-up growth from unseasonably warm weather ends as America shifts into warmer months. The catch-up growth just moves economic activity forward, and the same seasonal adjustment models that didn’t catch job growth in January and February, according to this theory, caught too much in March:
Economists say the mild winter has artificially inflated job growth. February alone stole as many as 72,000 positions from March and future months, according to Macroeconomic Advisers.
Translation: The surge in hiring early in the year may not be as strong as it appeared [...]
Typically, these bumps in demand are evened out through a process called seasonal adjustment. That allows researchers to compare one month’s economic activity with the next for a more accurate picture of the nation’s health. But this year’s weather was so abnormal that those models fell short, and economists are now scrambling to figure out how much of the growth over the past three months was simply due to a glitch in their systems.
“When the weather does not follow a normal seasonal pattern, then the seasonal adjustment cannot adjust for it,” said Chris Varvares, senior managing director and co-founder of Macroeconomic Advisers.
As Dean Baker explains, warm weather-sensitive jobs were just pulled forward, and so less new hiring resulted in March because it had already occurred in January or February. And that could continue in subsequent months. It also helps overall that workers pocketed more money in those early months. But if it’s project work, like construction, eventually the project ends.
Of course, economists cannot agree on whether construction workers are having a worse time of it in the Great Recession, so it’s less likely they’ll come to a conclusion about the impact of high temperatures on their jobs.
What none of this analysis takes into account is the devastation we will see from years upon years of higher temperatures and a warming planet. That paradoxically may be good for construction because so much will have to be rebuilt. But that hardly bodes well for the economy as a whole.




9 Comments

Support this site!
Subscribe to the newsletter
Advertise on Firedoglake
Send
us your tips
Make us your homepage
About FDL News Desk
Agreed. Every time I look out my window I see the devastation that higher temperatures have caused, it’s called a “lake” and it was formed by a receding glacier about 100,000 years ago.
Awful. Just awful.
Rising sea levels might do to Wall St. what OWS can’t.
Suck on this, idiot. Image of single day record high temperatures in March 2012.
I wonder if warmer sea and air temperature speeds up the distribution of radiation from Fukushima, and the Corexit from the Gulf of Mexico.
Radiation – the equal opportunity poison.
It should be noted that jobs created by global warming in construction are good and benefit society but jobs that are caused by global warming and cost society are bad.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/04/05/MNGK1NVD42.DTL
http://www.usatoday.com/weather/drought/story/2012-03-22/texas-drought-losses/53703926/1
This for example is worse as it subtracts $7.62 billion in farm jobs from the economy. Add 7.62 billion to $560 million plus $280 million a year.
Then factor in ten years never mind the cost of more trees being cut in those ten years. Then you have the long term cost of the drought in Texas.
The truth is that republicans don’t want jobs or a real jobs plan cause it might make the Dems look good. Besides, they are getting paid on the side to keep job growth away from America.
We’ve had a surplus of rain so far this year in Texas. In some areas, the additional rains have wiped out the deficit from 2011 already. A long way to go to recover, but things are looking promising for the first time in a long time.
worth a try I suppose, but,
the problem is, when you belong to the class of wilfully, or carelessly ignorant and misinformed, plain stupid, or bought off, and uninterested in the opinions of the entire qualified scientists in this field, people as such a person appears to be a member of, science, and well established facts are either ignored, dismissed with silly, irrelevant, misleading one liners such as was posted here, or simply, lied about.
This person will either not look at those statistics, or find some already repeatedly disproved explanation from a known quack.
For some people, It’s fun to be ignorant I guess.
i think they slipped one in on us at year end…
writing about the unemployment report saturday evening, and noting the number of people ‘not in the labor force’, now at an all time high of 87,897,000, was the reason for the headline percentage to decline to 8.2%, i connected a few dots back to the end of year extension of unemployment comp…under the new formula, the declining headline percentage has terminated Federal unemployment in 15 states…
4th paragraph here: http://marketwatch666.blogspot.com/2012/04/notes-on-march-unemployment-februarys.html