The extra unemployment benefits from the CARES Act are set to end soon but the U.S. is starting to recover, as new unemployment claims last week were 81% below the peak during the COVID-19 pandemic. To help add some context to these statistics, WalletHub just released updated rankings for the States Whose Unemployment Claims Are Recovering the Quickest, along with accompanying videos and audio files.
To identify which states’ workforces are experiencing the quickest recovery from COVID-19, WalletHub compared the 50 states and the District of Columbia across three metrics based on changes in unemployment claims. Below, you can see highlights from the report, along with a WalletHub Q&A. To see the states most recovered since the beginning of the COVID-19 pandemic, click here.
Change in Texas Unemployment Claims (1=Quickest Recovery, 25=Avg.):
- 554.05% Change in Unemployment Claims (Latest Week vs Last Year)
- 105,590 the week of July 6, 2020 vs 16,144 the week of July 8, 2019
- 18th slowest recovery in the U.S.
- 753.80% Change in Unemployment Claims (Latest Week vs Start of 2020)
- 105,590 the week of July 6, 2020 vs 12,367 the week of January 1, 2020
- 7th slowest recovery in the U.S.
- 1,262.24% Change in Unemployment Claims (Since Start of COVID-19 Crisis vs Last Year)
- 2,903,055 between the week of March 16, 2020 and the week of July 6, 2020 vs 229,993 between the week of March 18, 2019 and the week of July 8, 2019
- 23rd quickest recovery in the U.S.
