The thing about job loss from the destruction of buildings is that most of it comes right back.. in a different building. It's only bad locally and temporarily.
I don't know if that's necessarily true. The downtown of the small city where I grew up was destroyed by a simultaneous flood and fire and most of the downtown businesses simply disappeared forever. Many small businesses are in economically tenuous positions and a catastrophic event will wipe them out. This causes all the employes to lose their jobs, and a chain reaction to other small businesses who relied upon the destroyed businesses. Applied to NYC scale, suggesting the job loss numbers mean "direct" unemployment in this sense seems reasonable to me, but I could be wrong.
reply