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Update on Nate and US Economy

The United States was hit hard by three major hurricanes in less than a month, causing widespread and expensive damage, not only by land and infrastructure, but also with the economy. The country lost 33,000 jobs during the month of September according to the US Bureau of Labor Statistics. That brings the current unemployment rate to 4.2%


It is the first monthly decline in jobs since 2010. This loss is a result of many businesses being temporarily closed, and several permanently damaged, resulting in cost-saving action. Businesses that were hit the hardest include restaurants and bars.


Hurricane Nate is approaching this weekend for southeast Louisiana, Mississippi and Alabama. New Orleans is a place of rich culture and history, and will be one of the next cities to endure a hurricane. The city is taking action by declaring a state of emergency ahead of time. While it won’t be as strong as Katrina was in 2005, residents are not taking any chances. Evacuation orders have been issued. Hurricane Nate is still predicted to be a Category 1, but that could change as it approaches land.


We will keep you updated on this storm.


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