Hurricane Katrina
The Economic Impact of Hurricane Katrina
Sid van der Woude
Natural Disasters EES:1400:A08
2/19/2015
Once the storm finally passed, the flood waters finally receded, and the levees were put into some sort of repair, Hurricane Katrina, through its path of destruction left New Orleans and the surrounding areas in one of the costliest states of disrepair ever seen from a natural disaster in U.S. history. From the damage to infrastructure, to the lost jobs, to the loss of life, Hurricane Katrina left a devastating impact causing damages in the billions of dollars, hurting the area people and economy in many ways. Hurricane Katrina left in its wake an estimated 300,00 homes either destroyed or made uninhabitable, and somewhere between $96 - $125 billion dollars in damages (Kimberly Armadeo). New Orleans is surrounded by water and in many cases, below sea level. Although there are many protective levees and barriers in place to protect residents from storms, a powerful storm surge like the one brought in from Hurricane Katrina, can easily top the walls and leave the city trapped in a flood for weeks. Emergency officials agree that many of the buildings in these areas would not survive the winds of a high category storm in this situation (McQuaid and Schleifstein, 2002). Billions of dollars have been invested in levees, sea walls, pumping systems and satellite hurricane tracking that has saved thousands over the years (McQuaid and Schleifstein, 2002). Despite these new tools, Hurricane Katrina still managed to catch New Orleans off guard with the magnitude of destruction it brought leaving a death toll of more than 1,200 and putting tens of thousands out of their homes (Michael L. Dolfman, Solidelle Fortier, and Bruce Bergman, 2007). In addition to the infrastructure damage and loss of life and welfare, Hurricane Katrina had a big effect on the cities economy, labor market, and individual businesses. According to the Quarterly Census of
Sid van der Woude
Natural Disasters EES:1400:A08
2/19/2015
Once the storm finally passed, the flood waters finally receded, and the levees were put into some sort of repair, Hurricane Katrina, through its path of destruction left New Orleans and the surrounding areas in one of the costliest states of disrepair ever seen from a natural disaster in U.S. history. From the damage to infrastructure, to the lost jobs, to the loss of life, Hurricane Katrina left a devastating impact causing damages in the billions of dollars, hurting the area people and economy in many ways. Hurricane Katrina left in its wake an estimated 300,00 homes either destroyed or made uninhabitable, and somewhere between $96 - $125 billion dollars in damages (Kimberly Armadeo). New Orleans is surrounded by water and in many cases, below sea level. Although there are many protective levees and barriers in place to protect residents from storms, a powerful storm surge like the one brought in from Hurricane Katrina, can easily top the walls and leave the city trapped in a flood for weeks. Emergency officials agree that many of the buildings in these areas would not survive the winds of a high category storm in this situation (McQuaid and Schleifstein, 2002). Billions of dollars have been invested in levees, sea walls, pumping systems and satellite hurricane tracking that has saved thousands over the years (McQuaid and Schleifstein, 2002). Despite these new tools, Hurricane Katrina still managed to catch New Orleans off guard with the magnitude of destruction it brought leaving a death toll of more than 1,200 and putting tens of thousands out of their homes (Michael L. Dolfman, Solidelle Fortier, and Bruce Bergman, 2007). In addition to the infrastructure damage and loss of life and welfare, Hurricane Katrina had a big effect on the cities economy, labor market, and individual businesses. According to the Quarterly Census of
References: Cited Dolfman, Michael L., Solidelle Fortier, and Bruce Bergman. "The Effects of Hurricane Katrina on the New Orleans Economy." Bls.gov. N.p., June 2007. Web. Feb. 2015. Amadeo, Kimberly. "Hurricane Katrina Facts: Damage and Economic Effects." Useconomy.about.com. About New, n.d. Web. 11 Feb. 2015. John McQuaid and Mark Schleifstein. “In Harm’s Way.” 2002. Bernard Weinstein. “Hurricane Katrina,” Swiss Re, January, 2007