In the New Orleans metropolitan area in August 2005, the labor force was 634,512 and 35,222 people were unemployed. In September 2005 following Hurricane Katrina, the labor force fell by 156,518 and the number employed fell by 206,024. Calculate the unemployment rate in August 2005 and in September 2005.

Question

Mathematics

Susan Mcconnell

25 April, 20:12

In the New Orleans metropolitan area in August 2005, the labor force was 634,512 and 35,222 people were unemployed. In September 2005 following Hurricane Katrina, the labor force fell by 156,518 and the number employed fell by 206,024. Calculate the unemployment rate in August 2005 and in September 2005.

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Chana · Answer 1

Unemployment (August) = 35'222/634'512 ≈ 0.0555 ≈ 5.55%

Employed (August) = 634'512-35'222 = 599'290

Labor force (September) = 634'512-156'518 = 477'994

Employed (September) = 599'290-206'024 = 393'266

Unemployed (September) = 477'994-393'266 = 84'728

Unemployment (September) = 84'728/477'994 ≈ 0.177 ≈ 17.7%