It's MORNING EDITION from NPR News. I'm Renée Montagne.
STEVE INSKEEP, HOST:
And I'm Steve Inskeep. It's a busy Friday morning before the election. Around 8:30 Eastern Time the government releases the final monthly snapshot of the job market before the election.
MONTAGNE: Last month the unemployment rate dropped to 7.8 percent, the lowest in years. This month analysts expect the number may tic up again, though a separate survey may show another net gain in total people employed.
MONTAGNE: Chrysler is again in the news. Today it's not for political reasons, but because the Detroit automaker is selling cars, a lot of them. Chrysler had it best October sales in five years. And Automotive magazine has named Chrysler's CEO its man of the year.
STEVE INSKEEP, HOST:
NPR's Sonari Glinton reports.
SONARI GLINTON, BYLINE: When auto industry people talk about Chrysler's CEO Sergio Marchionne, they tend to gush.
The produce aisle may not yet be restocked at the Stop & Shop in Toms River, N.J., and other perishables may still be hard to come by. But rest assured, the local pizza joint is hopping.
"We've been busy, very busy," says Marissa Henderson, granddaughter of the proprietor of Geno D's pizzeria in Toms River. It was one of the few restaurants open in the area in the wake of the hurricane that rolled through earlier this week.
Lower Manhattan continues to slog through another day without electricity, and it's taking a toll on businesses that have been shuttered since the storm hit. No electricity means no lights, no credit card machines, no heating and no refrigerators to keep food fresh, so local shops and restaurants are waiting desperately for the power to turn back on.
Originally published on Thu November 1, 2012 3:09 pm
Connecticut Gov. Dannel Malloy wrapped up a post Hurricane Sandy news briefing earlier this week by talking about sewage discharges into Long Island Sound. "Suffice to say in the immediate time being, no one should eat the clams or oysters," he said.
That's right. Because of water quality issues, the state put a temporary stop to oyster farming, but that's usually a short-term thing and it happens fairly regularly after a big storm.
Three closely watched employment indicators are out this morning:
-- Unemployment Benefits. There were 363,000 first-time claims for jobless benefits last week, down from 372,000 the week before, the Employment and Training Administration says. So, as they have all year, claims remain in a range between 350,000 and 400,000.
Sandy is likely to go down as one of the costliest storms in U.S. history. The initial estimates of the losses are anywhere from $20 billion to $50 billion. But as NPR's Jim Zarroli reports, the impact on the economy is more complicated than it may appear. Some companies will even make money.
JIM ZARROLI, BYLINE: Economist Greg Daco has been tallying the potential costs of Hurricane Sandy and he says there's no question it's going to hurt the economy more than it will help it.