With the U.S. gaining 1.8 million jobs in July and the national unemployment rate at 10.2% compared to the nearly historic high of 14.7% at the peak of the coronavirus pandemic, WalletHub released updated rankings for the States Whose July Unemployment Rates Are Bouncing Back Most, along with accompanying videos and audio files, to illustrate which areas of the country have had the best recovery so far.
This report examines unemployment rates on a monthly basis, complementing the weekly analysis in WalletHub’s report on the States Whose Weekly Unemployment Claims Are Recovering the Quickest.
In order to identify the states with the best recovery in unemployment, WalletHub compared the 50 states and the District of Columbia based on four key metrics. We looked at the change in each state’s unemployment during the latest month for which we have data (July 2020) compared to July 2019 and January 2020. We also compared not seasonally adjusted continued claims in July 2020 to July 2019. Finally, we considered each state’s overall unemployment rate.
Bounced Back Most Bounced Back Least
1. Idaho 42. Rhode Island
2. Utah 43. New Mexico
3. Kentucky 44. Pennsylvania
4. Nebraska 45. California
5. Montana 46. New Jersey
6. Wyoming 47. Florida
7. Iowa 48. Nevada
8. Wisconsin 49. Hawaii
9. Missouri 50. New York
10. Arkansas 51. Massachusetts
To view the full report and your state’s rank, please visit: https://wallethub.com/edu/states-unemployment-rates/74907/