Economic Impacts of Katrina

Paper Summary:

This paper analyzes the impacts of Hurricane Katrina on labor markets and her effects on both local and national economies. The author explains the sources of information, statistics and research methodology, and finds that although an increased demand for labor after Katrina resulted in increased wages and resulted in improved economic conditions in the south for some, this was short-lived. The findings of the research showed that there are jobs available, but those that are available are low paying jobs and only in certain sectors. The author examines the obstacles New Orleans faced in rebuilding the economy as well as how Katrina affected the economy of the U.S. In closing, the author relates how Katrina can serve as a lesson for better preparations for local and national economies of the U.S in the future. The paper suggests contingency plans and urges more research to be done to analyze what businesses can actually do in the real world to prepare for disaster.

Outline:
Chapter 1: Overall Impact of Hurricane Katrina on Labor Markets in Affected Areas the Effects on Local and the National Economy
Rationale
Research Methodology
Study Results
Chapter 2: Economies (Local/National) Overall Ability to Bounce Back After Katrina
Background
Study Results
Chapter 3: Other Keys Issues that Have Affected the Economy since 2005
Background
Chapter 4: Valuable Lessons from Business and Economic Standpoints, and Preparation for Our Local and National Economies In The Future
Background
References

From the Paper:

"When Hurricane Katrina slammed into the Gulf coast, it left behind many lasting affects. Aside from the horrendous loss of life, the Hurricane left behind devastation and destruction of unprecedented amounts. There are two primary arguments concerning the impact of Katrina on employment and the Labor Market in the south and in the nation. The first scenario only considers the loss of business in the area. The other considers the need to rebuild, creating a surge in the construction industry. This research will explore both sides of the labor market issue in the wake of Katrina. The following will present an overview of secondary research related to this specific research question and will explore the rationale for the development of the research technique."

Sample of Sources Used:

• Arnall, D. Two Years Later: Katrina's Economic Impact. August 28, 2007. ABC News. Money. Retrieved May 19, 2008 from http://www.abcnews.go.com/Business/story?id=3529341&page=1
• Bureau of Labor Statistics. (2006) Hurricane Information. Katrina and Rita. US Department of Labor. Monthly Labor Review (August, 2006),
• Clayton, R., & Spletzer, J. (2006). Worker Mobility before and after Hurricane Katrina. Monthly Labor Review. 129 (8), 14-21. Retrieved may 19, 2008 from http://www.bls.gov/opub/mlr/2006/08/art2full.pdf.
• Colgan, C. & Adkins, J. (2006). Hurricane damage to the ocean economy in the US gulf region in 2005. Monthly Labor Review Online. 129 (8). Retrieved May 18, 2008 from http://www.bls.gov/opub/mlr/2006/08/art7abs.htm
• Disaster Recovery Guide. (DRG) (2008). The Disaster Recovery Guide. Retrieved May 19, 2008 from http://www.disaster-recovery-guide.com/

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