In the New Orleans metropolitan area in August 2005, the labor force was 634,512 and 35,222 people were unemployed. In Septem

Question

2 years ago

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In the New Orleans metropolitan area in August 2005, the labor force was 634,512 and 35,222 people were unemployed. In Septem

ber 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.

Mathematics

1 answer:

Lisa [10] · Answer 1 · 2022-05-17T08:18:10+03:00

Answer:

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%

Step-by-step explanation:

In the New Orleans metropolitan area in August​ 2005, the labor force was​ 634,512 and​ 35,222 people were unemployed. In Septem

In the New Orleans metropolitan area in August 2005, the labor force was 634,512 and 35,222 people were unemployed. In Septem