How an unusually warm winter boosted the economy
(SOURCE: MACROECONOMIC ADVISERS)
The unusually warm winter in the United States gave payroll employment numbers a big boost this year. How big? Macroeconomic Advisers estimates that the warm weather, with below-average precipitation, boosted payroll employment in February by 72,000, in part because employees weren’t forced to stay at home (or have outdoor work like construction called off) because of bad weather. As such, the firm estimates that payroll gains could fall by 58,000 in March and 14,000 in April--provided, that is, that the weather returns to seasonal norms. But if the current heat wave continues, then so, too, will the warm-weather stimulus. The Week lists a few other ways that warm weather gives the economy a boost.
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