A Los Angeles-based think tank has attempted to quantify the number of U.S. jobs lost as a result of the terrorist attacks of Sept. 11. The Milken Institute compared two scenarios for 2002. One assumed there had been no terrorist attack and only a mild recession based on economic trends prior to Sept. 11. The other took into account the economic wounds inflicted by the attacks.
Other affected destinations include Myrtle Beach, South Carolina; Reno, Nevada; Orlando, Florida; and Honolulu.
Cities with airport hubs or dependent on aircraft construction will also be disproportionately hurt including Wichita, Kansas and Fort Worth, Texas.
While the study says most cities will see recovery in 2003, it will take a year longer for New York City to recover economically.
Source: Andrew Caffrey, Attacks to Cost U.S. 1.64 Million Jobs, Survey Forecasts, Wall Street Journal, January 11, 2002.
For text (WSJ subscribers)
http://interactive.wsj.com/article/SB1010703370387745280.htm
For report text http://www.milkeninstitute.org
For more on the Effects of Terrorism http://www.ncpa.org/iss/ter/
