Job Losses From Storms Top a Half Million

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00009127-job-losses-from-storms-top-a-half-million/

By Martin Crutsinger, Associated Press

Job losses from hurricanes Katrina and Rita have passed the half-million mark with further increases still to come from Wilma as the Gulf Coast hurricanes continue to batter the economy.

Meanwhile, new home prices declined in September, a possible indication that rising interest rates are starting to cool off the red-hot housing market.

The Labor Department reported Thursday that an additional 24,000 workers who lost jobs because of Katrina, which hit Aug. 29, and Rita, which struck on Sept. 24, filed applications for unemployment benefits last week. That pushed the total over the past eight weeks to 502,000 hurricane-related claims.

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Job Losses From Storms Top a Half Million

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