The state of Louisiana as a separate entity experienced a great two-month all time high unemployment rate. The trend started in October 2005 which spanned two months as it approached November. This all time high was recorded based on the ten year study scope since the year 1997. There are several factors which must have influenced the very big unemployment rate for Louisiana at the start of 2005’s last quarter.
However, the significant events which happened during that time frame are the main influencing aspect why many people were left unemployed and were not able to quickly restructure their livelihoods. Primarily, the biggest factor can be attributed due to the hurricane Katrina which ravaged the state, directly leaving nothing but destruction. Apparently, it was considered to be the costliest type of destruction from a hurricane in the history of the United States (Wikipedia, 2007). Because of such big impact, many economic and social structures were devastated resulting to a huge unemployment rate.
Businesses and commercial infrastructure were all reduced to non-functioning units of businesses. In comparing the Louisiana unemployment rate with the national level at the same time frame, the state rate was higher than the national intensity. The overall rate for Louisiana was more than double that of the national level at 5. 0%. References Wikipedia. 2007. Hurricane Katrina. Wikipedia-The Free Encyclopedia. Retrieved November 26 2007 from http://en. wikipedia. org/wiki/Hurricane_Katrina.
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