Rebuilding from Hurricane Ida should mean economic growth recovers quickly, based on past storms. But disasters hit personal wealth and may pressure wages and material prices; the opportunity cost of disaster spending can’t be measured, rob_cyran says.
Louisiana is recovering from Hurricane Ida, one of the most powerful hurricanes to ever hit the state. The storm was downgraded to a tropical depression on Aug. 31.
Over 1 million customers were without electricity in Louisiana early on Aug. 31, according to PowerOutage, which gathers data from U.S. utilities. Residents in some areas could be without power for weeks, local utility Entergy said on Aug. 30.Flooded streets are pictured after Hurricane Ida made landfall in Louisiana, in Kenner, Louisiana, U.S. August 30, 2021.
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