Today the NBA players and owners agreed in principle on a new labor agreement.

Link

No matter the specifics of the deal what kind of impact will this have on the American economy?

- The consumerist estimates that 400 jobs have been cut to some extent just in NBA official operations.

- Basketball players make billions of dollars per year as a group. Each of these players has taken their first missed check. You can only assume that these millionaires have cut down on their spending to cope. With the end of the lockout looming and the paychecks back on their way you can only assume that these millionaires will once again open up their wallets to spending.

- And then your talking about the little people. The people that stood the most to lose from no NBA season. When your talking about metropolitan areas that had a lot to lose from no NBA season from millions in unrealized revenue (Orlando, Los Angeles, Indianapolis, etc.). When looking at the Indiana Pacers in particular a Study showed that 990 full time jobs (not including part time jobs) would be lost along with 55 million in economic activity and subsequent taxes. While the lockout certainly has taken way less of a toll then a move would if even a tenth of these jobs have been lost and could be regained along with the increase in economic activity it would be a great thing for these areas.

- Then there are the random miscellaneous things that the NBA brings such as charity, advertising revenue, etc.
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Taking this as a whole what kind of economic impact will this labor agreement have on the economy?
With the economy already showing improvement over the previous quarters will this be the kind of nudge in the right direction that could spur a rally in the right direction?
What kind of impact will this agreement have on the unemployment figure?