Hurricane Katrina is tied as the costliest hurricane to have ever hit the United States, with $125 billion in damages. This number does not account for the additional costs associated with the economic fallout of the storm, which includes the loss of homes and jobs, as well as the interruption of the export industry, the tourism industry, oil production and supply, and tax collection. In New Orleans alone, an estimated 95,000 individuals lost their jobs in the 10 months following the hurricane, accounting for $2.9 billion in lost wages. The storm’s economic effects were also felt by the country at large. Katrina impacted up to 19% of the total U.S. oil production, as 24% of the country's natural gas supply is housed in or around areas impacted by the storm. 20 offshore rigs sustained significant damage by either sinking or running adrift. As a result, Louisiana refineries began to halt production, and gas prices across the countries rapidly increased in the weeks following Katrina. This was the first time in the country’s history that the national average gas price exceeded $3.
In New Orleans, urban renewal projects were implemented in the years following the storm in an attempt to revitalize the shrinking city and jumpstart the economy, as much of the loss occurred in the housing sector. Consequently, the lack of affordable development, the renovation of rental properties, and the demolition of several public housing projects meant that many displaced residents remained without homes. Efforts to gentrify neighborhoods in order to promote a new post-Katrina economy left the city’s lower-income residents without the means to return.
Listed below are some recommended subject headings for searching for Hurricane Katrina's impact on the Economy. Full steps on how to use these subject terms can be found on this LibGuide's homepage.
Disaster relief -- Louisiana -- New Orleans
Disaster victims -- Louisiana -- New Orleans
Disasters -- Louisiana -- New Orleans
Emergency management -- Louisiana -- New Orleans
Floods -- Louisiana -- New Orleans
Hurricane Katrina, 2005 -- History.
Hurricane Katrina, 2005 -- Periodicals.
Hurricane Katrina, 2005 -- Economic aspects.
Urban renewal -- Louisiana -- New Orleans
A few of the collections held by LSU Libraries Special Collections are listed below. Additional collections may be found utilizing the subject headings listed in the sections above.
Books and other published materials
Additional resources on Hurricane Katrina may be located at the following links.
Images in the banner from left to right are numbered below 1 to 8.
1. Hurricane Audrey 2. Hurricane Betsy 3. Hurricane Camille 4. Hurricane Andrew
5. Hurricane Katrina 6. Hurricane Rita 7. Hurricane Gustav 8. Hurricane Ike
Images 1-4 are in the public domain because they contain materials that originally came from the U.S. National Oceanic and Atmospheric Administration, taken or made as part of an employee's official duties.
Images 5-8 are in the public domain in the United States because they were solely created by NASA. NASA copyright policy states that "NASA material is not protected by copyright unless noted". (See NASA copyright policy page.)