English home Forum Photo Gallery Features Newsletter Archive   About US Help Site Map
- Newsletter
- Online Community
- China Biz Info
- News Archive
- Feedback
- Voices of Readers
- Weather Forecast
 RSS Feeds
- China 
- Business 
- World 
- Sci-Edu 
- Culture/Life 
- Sports 
- Photos 
- Most Popular 
- FM Briefings 
 About China
- China at a glance
- China in brief 2004
- Chinese history
- Constitution
- Laws & regulations
- CPC & state organs
- Ethnic minorities
- Selected Works of Deng Xiaoping

Home >> World
UPDATED: 11:31, September 05, 2005
Katrina wreaks 'economic havoc'
font size    

Hundreds of thousands of Americans are finding themselves out of work and their livelihoods in limbo following the wrath of Hurricane Katrina.

Experts believe it will take months before people get back to work in hurricane-ravaged areas. Some workers may not have jobs to return to and others may opt to move away and find work elsewhere, economists and other experts said.

Workers in flooded-out New Orleans, which faces major and potentially lengthy cleanup challenges, are taking the biggest hit, analysts said.

"New Orleans is an economic disaster. This tragedy is so unprecedented people could be out of work for three, six, nine months or longer," said Rajeev Dhawan, director of the economic forecasting project at Georgia State University.

By Dhawan's estimates close to 1 million people have been thrust out of work in parts of Louisiana, Mississippi and Alabama because of Katrina.

Phil Hopkins, managing director of US regional services for Global Insight, estimates that at least a half a million people are out of work because of the storm.

The jobless rate in the area of New Orleans, Metarie and Kenner could easily climb to 25 per cent, Hopkins estimated. In another storm-slammed area of Gulfport and Biloxi, Mississippi, the unemployment rate could rise to around 20 per cent or higher, he added.

Source: China Daily

Comments on the story Comment on the story Recommend to friends Tell a friend Print friendly Version Print friendly format Save to disk Save this

- Text Version
- RSS Feeds
- China Forum
- Newsletter
- People's Comment
- Most Popular
 Related News
- New Orleans nearly empty after hurricane

- US asks for EU, NATO for aid

- Survivors of hurrican Katrina in Houston 

- US to send more troops to hurricane-ravaged areas

- Qatar donates $100mln for US hurricane relief

- China to offer $5 mln to Katrina-hit US regions

- Troops head for stranded New Orleans 

- Latin America shows solidarity with Katrina-hit US

Online marketplace of Manufacturers & Wholesalers

Copyright by People's Daily Online, all rights reserved