September 1, 2005 1:11 PM

Hurricanes, oil prices and the job market
Posted by at 1:11 PM

While most of us are still trying to grasp the devastation of Hurricane Katrina on a human scale, analysts are scrambling to assess the storm's impact on the nation's job market and economy. The short-term prognosis is somewhat bleak, but the U.S. economy will be saved by its resilience, says Lakshman Achuthan, managing director of Economic Cycle Research Institute.

"I don't think we're going to see jobs collapse or disappear," said Achuthan, who projects 200,000 new jobs for August. "There is a bit of fear in the air with what's been going on with oil prices and the hurricane that there's going to be some kind of collapse. But I think this economy is resilient."

Read the entire piece on cnnmoney.com.