South DaCola

Kind of reminds you of Sioux Falls economic recovery after the recession

Wall Street Journal, “An Unfinished Riff: The New Orleans Economy Ten Years After Katrina,” by Leslie Eaton and Cameron McWhirter:  “In the years since the storm forced out about half the metropolitan area’s residents, the population has rebounded to 1.25 million people, 90% of its pre-Katrina level…But as the $135 billion rebuilding winds down, federal employment data reveal a local economy increasingly skewed to low-wage jobs, especially restaurant work, one of the few sectors now employing more people than before Katrina. Those jobs drag down average incomes, analysts say, widening the economic divide between whites, who are generally richer than before, and blacks, who aren’t.”

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