States where coronavirus unemployment recovery has been most robust
In many states, the June unemployment rate was in the single digits
The U.S. economy added more than 7 million jobs between two record months in May and June, but new data suggests opportunities may be more prevalent in some parts of the country than others.
Despite those two stellar months of job creation, the U.S. has recovered only about one-third of the jobs lost during the pandemic.
And experts have warned about another wave of layoffs – and more economic turmoil ahead – as the number of confirmed cases continues to rise in states like California, Texas and Florida, which has caused tiered reopening plans to be paused or scaled back in some instances.
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However, the employment situation appears to be faring better in some areas of the country that have experienced less severe virus outbreaks so far this year.
Here’s a look at states where the unemployment rate is rebounding the fastest, as compiled by WalletHub. The rankings are based on changes in unemployment rates in June, year over year changes in seasonally adjusted and nonseasonally adjusted claims, as well as the current unemployment rates.
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Unemployment rate as of June: 4.8 percent
Unemployment rate as of June: 5.3 percent
Unemployment rate as of June: 5.5 percent
Unemployment rate as of June: 7 percent
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Unemployment rate as of June: 6.4 percent
Unemployment rate as of June: 6.8 percent
Unemployment rate as of June: 7.6 percent
Unemployment rate as of June: 6.3 percent
Unemployment rate as of June: 7.9 percent
Unemployment rate as of June: 6.9 percent