JPMorgan Chase Institute
Weathering Natural Disasters
Research and insights about how Hurricanes Harvey and Irma affected local economies
In the wake of two especially damaging natural disasters, Hurricanes Harvey and Irma, the JPMorgan Chase Institute (JPMCI) analyzed the impact of these events on consumer financial outcomes, small business resilience, and local consumer commerce in Miami and Houston to understand how they affected local economies in the weeks and months after landfall. Together, these reports shed light on the financial experiences and decisions of consumers and small businesses before, during, and after the storms. The findings provide insight into the financial resilience of these communities, and reveal important takeaways for individuals, businesses, and policymakers. By learning from past natural disasters, leaders can better prepare for and respond to future natural disasters.
- Hurricanes Harvey and Irma represented a major financial disruption for families and businesses.
- While consumers and small businesses in both Houston and Miami may have seen inflows and outflows return to normal and hence healthy balances, they continue to see significant welfare impacts. Consumers spent significantly less on both healthcare and debt payments. Both consumers and small businesses may be preparing for or continuing to pay for construction repairs.
Weathering the Storm:
The Financial Impacts of Hurricanes Harvey and Irma on One Million Households
The JPMorgan Chase Institute draws on transaction-level data to provide a first-ever daily look at the impacts of Hurricanes Harvey and Irma on household financial outcomes.
Bend, Don’t Break:
Small Business Financial Resilience After Hurricanes Harvey and Irma
This report aims to assess the impact of hurricanes Harvey and Irma on small businesses inflows, outflows, and balances through November 2017.
Local Consumer Commerce in the Wake of a Hurricane
To better understand the impact and scope of the local commerce slowdowns due to hurricane landfall, the JPMorgan Chase Institute leverages the monthly Local Consumer Commerce Index.
Data Visualization: Concentration of severely impacted firms in Houston and Miami after Hurricanes Harvey and Irma
We explore the financial impact of Harvey and Irma at the zip code level by identifying the share of “small businesses that experienced severe year-over-year weekly inflow losses.
This material is a product of JPMorgan Chase Institute (“JPMCI”) and is provided to you solely for general information purposes. Unless otherwise specifically stated, any views or opinions expressed herein are solely those of the authors listed, and may differ from the views and opinions expressed by JPMS’s Research Department or other departments or divisions of JPMorgan Chase & Co. or its affiliates. This material is not a product of the Research Department of J.P. Morgan Securities LLC (“JPMS”). Information has been obtained from sources believed to be reliable but JPMorgan Chase & Co. or its affiliates and/or subsidiaries (collectively J.P. Morgan) do not warrant its completeness or accuracy. Opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. The data relied on for this report are based on past transactions and may not be indicative of future results. The opinion herein should not be construed as an individual recommendation for any particular client and are not intended as recommendations of particular securities, financial instruments or strategies for a particular client. This material does not constitute a solicitation or offer in any jurisdiction where such a solicitation is unlawful.
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