The Gulf Region before Hurricane Katrina
Hurricane Katrina caused terrible loss of lives and immeasurable human suffering. It also disrupted local economies throughout the south-central U.S. Areas affected by the storm are eligible to receive assistance from the Federal Emergency Management Agency for state and local governments and certain private nonprofit organizations. A smaller number of areas are also eligible for assistance to individuals and households. These “most affected” counties or parishes in Louisiana and Mississippi had weak labor market conditions even before the storm. Although these areas’ unemployment rates were lower than their states’, they exceeded the 5.0% U.S. rate.
Suggested citation: "The Gulf Region before Hurricane Katrina," Federal Reserve Bank of Cleveland, Economic Trends, no. 05-10, pp. 13, 10.01.2005.