Hurricane is expected to cause U-S jobless rate to surge

WASHINGTON With their city mostly underwater and needing a major cleanup, workers in the New Orleans area stand to take biggest hit from Hurricane Katrina.
The jobless rate in the now-ravaged Gulf Coast region is expected to jump 25 percent or higher in the wake of the storm.

A chief investment strategist at Charles Schwab says that 28 percent of the New Orleans area was already living under the poverty line, and that they will have the hardest time recovering.

Some economists say that many small businesses probably won't reopen -- especially when it will take 'gigantic' efforts just to restore utilities like electricity, water and sanitation.

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