Wednesday, June 22, 2011

Estimating The Economic Impact Of A San Andreas Quake

 

 


# 5643

 

Japan, a little more than 100 days after their massive 9.0 earthquake and Tsunami, finds itself in recession with hundreds of thousands of people either displaced from their homes or out of work, and much of their manufacturing base in disarray.

 

The damage from these types of disasters continue long after the shaking stops.

 

Over the past 18 months we’ve seen major earthquakes along the Pacific rim ranging from Chile, to New Zealand, to Japan. Spared, thus far, have been the Pacific coasts of North America.

 

But California, Washington, Oregon, British Columbia, and Alaska all have significant seismic risks. 

 

Accordingly, the U.S. Bureau of Labor Statistics released a report yesterday that estimated the crippling impact a highly feasible (and long overdue) 7.8 magnitude Southern California earthquake would have on jobs and local businesses.

 

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Download PDF file

 

 

A quake of this magnitude, they estimate, could affect  430,000 businesses and 4.5 million workers and deliver a devastating – and prolonged – blow to the local economy.

 

While huge death tolls are considered unlikely in this scenario, the untimely demise of thousands of unprepared businesses is all but assured.

 

As the following story in the Los Angeles Times points out, it is imperative that local businesses prepare now for an inevitable quake.

 

Else they risk not only their own economic future, but the futures of their employees and of the local economy.

 

Southland businesses urged to get ready for 'The Big One' -- a 7.8 earthquake

June 21, 2011 |  3:03 pm

 

 

Yesterday’s announcement makes this a pretty good time to remind my readers about the study last year (see Revised Risk Of `The Big One’ Along San Andreas Fault) that suggests that Southern California may be more overdue for another major quake than previously thought.

 

For more on how you can prepare for `the big one’ (even if you live someplace other than Los Angeles), I would recommend you download, read, and implement the advice provided by the The L. A. County Emergency Survival Guide.

 

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And finally, from  the USGS Great Southern California Shakeout website,  we’ve this 4 and 1/2 minute video called Preparedness Now (Streaming | Video) that  “depicts the realistic outcome of a hypothetical, but plausible, magnitude 7.8 earthquake on the San Andreas fault in Southern California.”

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To become better prepared as an individual, family, business owner, or community to deal with these types of disasters: visit the following preparedness sites.

 

FEMA http://www.fema.gov/index.shtm

READY.GOV http://www.ready.gov/

AMERICAN RED CROSS http://www.redcross.org/