Excerpt from Press:Here episode 86 airing Sunday, March 20, 2011.
We have yet to fully learn the human toll of the disaster in Japan, and while the world rightly thinks about how to solve Japan's most immediate crisis, economists have started to calculate the financial cost.
Japan's productivity will almost certainly fall for the next six months at least, says Wells Fargo chief economist John Silvia. Considering American factories are underproducing and many American workers are unemployed, the United States can easily make up for those losses. In fact, the earthquake may actually decrease unemployment in America.