Jobless claims are expected to rise and payroll data may be distorted. The BLS anticipated potential problems caused by Floyd and postponed data collection efforts from affected counties. Now assume that most of the damage is covered by casualty insurance. Show on your diagram the impact of the economy when consumers attempt to replace their property loss. Explain the conditions under which real GDP could increase.
Hurricanes cause much destruction and dislocation.
Some of the costs of a hurricane are counted in GDP others are not.