How did Hurricane Katrina affect employment?

The change reported for September—a loss of 35,000 jobs—is about 230,000 less than the average monthly gain over the previous 12 months.

How many people were unemployed after Hurricane Katrina?

What do the household data indicate about the employment status of evacuees?

Employment status in December 2005 Total Residence in December
Different than in August
Employed 563 230
Employment-population ratio 51.0 46.0
Unemployed 80 60

What is the losses from Hurricane Katrina?

An interesting fact is that Hurricane Katrina remains the costliest hurricane in U.S. history, causing an estimated $161 billion in damage along the U.S. Gulf Coast. It destroyed or damaged more than 850,000 homes. Between 300,000 to 350,000 vehicles were also destroyed, as well as 2,400 ships and vessels.

How long did it take for the economy to recover after Hurricane Katrina?

In sum, two years after Hurricane Katrina and the subsequent levee failures, the city of New Orleans and its metro area has bounced back, recovering most of its population and economic base.

How many businesses did Hurricane Katrina destroy?

Approximately 81,000 businesses in Louisiana were damaged by hurricanes Katrina and Rita last year, according to the Census Bureau. Although 75 percent have since reopened their doors, around 19,000 businesses have closed permanently since the storms.

How did Hurricane Katrina affect New Orleans economically?

All told, economic losses related to Katrina have been estimated at over $125 billion, as hundreds of businesses in the region went under. “During the first 10 months after the hurricane, [New Orleans] suffered an over-the-year average loss of 95,000 jobs.

Did Katrina hit as a Cat 5?

After moving west across south Florida and into the very warm waters of the Gulf of Mexico, Katrina intensified rapidly and attained Category 5 status (with peak sustained winds of 175mph) for a period of time as it moved northwest on August 28th.

How many businesses closed after Hurricane Katrina?

What businesses did Hurricane Katrina destroy?

Hurricane Katrina was particularly damaging to the nation’s oil and natural gas industry, which is based mainly in the Gulf of Mexico.

How did Hurricane Katrina affect the oil industry?

Ninety percent of U.S. oil production along the Gulf Coast was shut down in Katrina’s wake, causing crude oil futures to briefly reach $70 a barrel and wholesale gasoline costs to spike to near-record levels of $2.90 a gallon. That led to gas station prices rising to almost $4 a gallon in some U.S. markets.