WATCH FOX 17 THIS MORNING LIVE!

WATCH FOX 17 THIS MORNING LIVE!

  • TUNE IN or STREAM NOW

    07/25/14 07:01:26 AM

    We are LIVE with the first day of Tennessee Titans training camp! As the NFL season looms, the Nashville Sounds season is heading down the stretch with only 17 games left! We are also LIVE at the scene of a 2-story house fire in Murfreesboro with incredible footage. WATCH;  click here for more

WZTV - Search Results

The following is an archived video story. The text content of that video story is available below for reference. The original video has been deleted and is no longer available.

Job Market Takes the Heat from all the Cold Weather

Stream WZTV Fox 17 Newscasts LIVE starting with Fox 17 This Morning at 5am and News at 9pm.

WASHINGTON, D.C. - In Nashville, we're finally getting some relief from the cold. We're improving, but recent cold weather and heavy snow across the country is hurting businesses from coast to coast. FOX17's National Correspondent Kristine Frazao shows us how much the job market is taking the heat from all the cold weather. The U.S. economy has caught a bad cold this winter. Nearly $50 billion in lost productivity with nearly 80,000 jobs lost. That, according to a CNBC poll of Wall Street financial experts. Certainly nothing florist Bill Dewall could do before a snowstorm forced him to close his shop a day before Valentine's Day last week.

It left Dewall with nothing to do but count the imaginary cash that slipped through his hands. Nearly every major sector of the economy has been left out in the cold this winter. Delayed and cancelled flights cost airlines and passengers $1.4 billion according to the consulting firm Masflight. Retail stores saw sales from last December into January slip 4/10%. In much of the country, realtors report tumbling sales of new and existing homes. New data is due out later this week. Sales of cars and light trucks plummeted by 3% in January. February is looking even worse.

Economist Steven Isberg sees the negative impacts of this winter as a temporary mask for long term problems with the economy. Isberg still believes the economy is re-aligning itself and unlike this winter, the pain will stick around long after the snow melts.

Follow us on Twitter @wztv_fox17 and LIKE us on Facebook for updates.