The World Trade Center Before 9/11 The World Trade Center On
9/11
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The damage to the Pentagon-over a billion dollars to repair The
four planes-$50 million and $100 million each After the first month
following the attacks-105 billion dollars worth of damage Total
estimated cost of cleanup-600 million The FEMA (Federal Emergency
Management Agency) spent $970 million donated $1.4 billion to 9/11
charities Estimated amount of money needed to overhaul lower-
Manhattan subways-$7.5 billion U.S. government granted almost $5
billion Insurance rates for people went up after 9/11 and the total
amount of insurance paid worldwide was $40.2 billion
Slide 8
From September 11 th to September 17 th NASDAQ, The American
Stock Exchange, and The New York Stock Exchange were closed because
of the attacks. The Dow Jones Industrial Average fell 684 points
(7.1%) This was a record-setting one-day point decline The DJIA
fell 1,369.7 points (14.3%) by the end of the week For the week the
American stock market lost a total of $1.4 trillion That is now
equal to $1.72 trillion in present day
Slide 9
Many policemen and firefighters lost their lives in 9/11 Many
charities and organizations were created to help out the families
of these police and firemen Americans raised an estimated amount of
$500 million for the families of New York policemen and
firefighters There was an average of 1 million dollars received by
widows of policemen and firefighters
Slide 10
After 9/11 people no longer wanted to travel using the airlines
because they felt they were unsafe In 2001 1.5 million Americans
changed their holiday travel plans and found other transportation
When tourism decreased this caused a major loss in jobs for people
that worked in a sector Sector-employed 280,000 people and
generated $25 billion per year Hotel occupancy also declined and
this caused 3,000 employees to lose their jobs
Slide 11
Airlines had to refund every ticket purchased to people unable
to fly on 9/11 The United Airlines and American Airlines made
initial payments of $25,000 to help immediate victims families
Before the attacks the airlines were already having financial
troubles. The attacks caused airline and plane manufacturer share
prices to decrease. After the attacks the share prices of airlines
and airplane manufacturers declined. Midway Airlines was already at
risk of bankruptcy so they were forced to shut down operations
almost immediately afterwards. Other airlines were at risk of
bankruptcy and there were thousands of layoffs. Things got so bad
that the government had to provide an aid package to help the
industry which included $10 billion in loan guarantees, and $5
billion for short-term assistance
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After 9/11 the airports were forced to take extreme measures to
make the airlines safe for passengers. Millions of dollars were
spent on full-body scanners and other security technology,
including bomb detectors. Money was also spent to hire more
employees and security guards to do proper searches. Americans were
forced to pay more taxes in order to pay for these precautions but
in the end the majority of people think this is a necessity.
Slide 13
In the 18 months before September 11 th there were 1,642,988
jobs lost. In the 18 months following the September 11 th attacks
there was a loss of more than 2.5 million jobs. From 9/11 through
the end of February, there was a job loss total of 2,523,217. This
was an increase of 54%, or 880,988 jobs. People that worked for the
transportation industry were hit the hardest and 226,674 jobs were
lost along with the aerospace/defense sector, where 138,937 jobs
were cut
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There were a total of 146,100 jobs lost in New York because of
the attacks. On an average day prior to 9/11 there were 50,000
people working in the world trade center. All of these jobs were
lost and almost 3,000 people were killed. People who worked for the
airlines lost their jobs or were laid off. Also due to the decrease
in travelers there were a lot of layoffs for hotel employees About
18 thousand businesses were ruined after September 11 th
Slide 15
Many people wanted to help after 9/11 and in order to do so
they applied for jobs that would give them that chance. There was a
40% increase from 01-02 of Peace Corps applications. Also there was
a 50% increase of job applications to the CIA. There were also
people that wanted to help the families of people involved in 9/11
financially by becoming lawyers so there was a 17.9% increase of
applications to law-school
Slide 16
due to the terrorist attacks on September 11, 2001 the American
economy has changed drastically. Not only is America still dealing
with the aftermath of this tragic day but it will remain in peoples
hearts for the rest of their lives. September 11 affected the
economy by creating billions of dollars worth of damage, a major
loss for airlines and tourism, and many lost jobs and wages.
Makinen, Gail. "The Economic Effects of 9/11: A Retrospective
Assessment". Report for Congress. Accessed 15 May 2010. "September
11 Attacks". Wikipedia. Accessed 15 May 2010. "Economic Effects
Arising from the September 11 Attacks". Wikipedia. Accessed 15 May
2010. "Aftermath of the September 11 attacks". Wikipedia. 15 May
2010. "9/11 by the Numbers". New York Magazine. 15 May 2010.
Sullivan, Brian. "Job losses since 9/11 attacks top 2.5 million".
Computer World. 15 May 2010. Templeton, Tom. "9/11 in numbers". The
Observer. 15 May 2010. Dudley, William. The Attack on America:
September 11, 2001. Greenhaven Press: Bonnie Szumski, 2002.