On Friday the Labor Department has said that the nation’s unemployment rate is down 4.9%, a new 4-year low and U.S. employers in August have added 169,000 job positions. Wall Street treated this news as ancient history due to the fact that there are alteractions to the nation’s economic landscape by Hurricane Katrina.

The likelyhood of recession has doubled after the aftermath of Katrina according to the S&P500 credit rating agency. Recession likelyhood has increased from 12% to 25% after the hurricane according to them. Beth Ann Bovino, a senior economist at the Standard and Poor’s 500 says that what would drive it is 100$ oil prices.

Now how crazy would that be if that happened?

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