Could national economic downturn actually benefit New Orleans? (1 Viewer)

DavidM

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Associated Press

NEW ORLEANS -- Mayor Ray Nagin believes the national economic slowdown could benefit New Orleans, pushing contractors, in need of work, to a city flush with it. Economists say he has a point, to a degree.

Construction is expected to be a major driver of, and rare bright spot in, the region's economy over the next two years, with billions of dollars in repair and new construction projects planned or under way and a need for workers far greater than before Hurricane Katrina, according to an economic outlook.

Yet, while construction workers are typically more mobile than other job-seekers and gravitate toward areas offering lots of work and excellent wages - descriptions New Orleans fits - there's debate among economists and industry leaders over how many new workers the city may attract.


http://thenewsstar.com/apps/pbcs.dll/article?AID=/20080117/UPDATES01/80117001/1002/NEWS01
 

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