Sept. 11 terrorist attacks to take 1.6 million jobs, study says

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Santa Monica, Calif.--Milken Institute, headed by chairman Michael Milken and specializing in economic research, said Friday that more than 1.6 million people will lose their jobs in 2002 as a direct result of the Sept. 11 attacks. Many of those jobs will return in 2003, said Ross DeVol, Milken Institute regional studies director and author of the report. Las Vegas will suffer more than any other city, logging 5% fewer jobs in 2002 than it would have had if the Sept. 11 attacks had not happened. New York will have a 3.42% decline and lose the largest number of overall jobs, with 150,000 fewer people working in 2002 than might have been expected if the attacks hadn’t occurred.
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