October Superstorms bring Summer Jobs to NYC
When Superstorm Sandy slammed into the East Coast and NYC in October, nobody was really thinking that there would be any benefit from it at the time. At the time, people we bracing for destruction, a storm surge that would bring more damage, fatalities, and just a long time to rebuild.
But after seven months, there turns out there is a silver lining in the hurricane that battered New York City and New Jersey. New construction jobs are popping up and the number of workers is starting to reach pre-recession levels. According to a report from Crainsnewyork.com, there are 111,333 workers in the New York’s construction industry, up 1.3 percent from the same time in 2012 and up 5.4 percent since the first quarter of 2011.
Although Richard Anderson, president of the New York Building Congress, is quoted as saying he’s not exactly sure if the jobs are directly related to Superstorm Sandy, he did note that gains in the construction industry were made during the first three months of this year, typically a time period when it’s the “lowest period of employment in construction.”
There still could be some room for growth too. The article states that in 2007, NYC had an all-time high of $31.1 billion in construction spending with 136,000 jobs to show for it. Now there’s $30 billion worth of construction spending with 20,000 less jobs.