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Katrina won't stall recovery, experts predict: job growth to continue; sales taxes increasing.

Publication: Westchester County Business Journal
Publication Date: 19-SEP-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
The recovery taking shape in Westchester's economy won't be derailed this fall by the aftermath of Hurricane Katrina despite, the spike in gas and home heating oil prices, according to a consensus of economists and other experts.

But national and even regional growth would take a hit, though not hard enough to bring back the recession of 2001 that was aggravated by the Sept. 11 terrorist attacks.

A quarterly employment study last week maintained that Westchester businesses would continue picking up the pace of their hiring during the fourth quarter--the conclusion borne out by its data compiled weeks before a hurricane flooded New Orleans and much of the Gull' Coast.

According to Manpower Employment Outlook Survey, 30 percent of Westchester businesses questioned said they plan to hire during the fourth quarter, up from 27 percent last quarter but down from 40 percent a year ago. Businesses most likely to hire specialize in services, wholesale or retail trade and...

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