New York State ranked 4th highest unemployment rate in the U.S.

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A hiring sign shows in Vernon Hills, Ill., Friday, June 11, 2021. Barely more than a year after the coronavirus caused the steepest economic fall and job losses on record, the speed of the rebound has been so unexpectedly swift that many companies can’t fill jobs or acquire enough supplies to meet a pent-up burst of customer demand. (AP Photo/Nam Y. Huh)

NEW YORK (WWTI) — Although many states are experiencing a drop in unemployment rates, New York is having a harder time bouncing back from the effect the pandemic has had on employment.

According to the personal-finance website WalletHub, the U.S. unemployment rate currently sits at 5.4%, a vast improvement from the nearly historic high of 14.8% in April 2020. New York currently has an employment rate of 7.6%.

WalletHub’s July jobs report showed much better job growth than the previous month with the economy gaining 943,000 nonfarm payroll jobs, with notable gains in sectors including leisure and hospitality, local government education, and professional and business services. The website claimed the overall drop can be attributed largely to a combination of vaccinations and states loosening restrictions.

In order to identify the states whose unemployment rates are bouncing back most, WalletHub compared the 50 states and the District of Columbia based on five key metrics that compare unemployment rate statistics from July to key dates in 2019 and 2020.

The report found that Nebraska, Utah and South Dakota have recovered the most, while New York, California and Nevada fell to the bottom of the list. The study also discovered the following about New York’s unemployment recovery:

  • 96.37% Change in Unemployment (July 2021 vs July 2019)
    • 708,641 unemployed people in July 2021 vs 360,869 in July 2019;
    • 5th worst recovery in the U.S.
       
  • 96.89% Change in Unemployment (July 2021 vs January 2020)
    • 708,641 unemployed people in July 2021 vs 359,918 in January 2020;
    • 5th worst recovery in the U.S.
       
  • -48.60% Change in Unemployment (July 2021 vs July 2020)
    • 708,641 unemployed people in July 2021 vs 1,378,613 in July 2020;
    • 15th best recovery in the U.S.
       
  • 117.89% Change in Not Seasonally Adjusted Continued Claims (July 2021 vs July 2019)
    • 292,181 continued claims in July 2021 vs 134,096 in July 2019;
    • 15th worst recovery in the U.S.
       
  • 7.6% Unemployment Rate (July 2021)
    • 4th highest unemployment rate in the U.S.

States Whose Unemployment Rates Are Bouncing Back Most

1Nebraska2.3%-22.8%-22.4%-46.9%103.5%
2Utah2.6%9.0%9.0%-51.4%50.1%
4South Dakota2.9%-3.1%0.6%-44.4%42.8%
6New Hampshire2.9%10.5%11.1%-64.3%154.1%
3Idaho3.0%9.6%17.0%-48.5%4.1%
7Vermont3.0%24.1%13.9%-53.4%70.0%
5Alabama3.2%11.6%20.6%-56.7%31.1%
10Oklahoma3.5%13.7%13.4%-51.2%144.8%
8Montana3.6%1.1%-1.6%-45.7%40.1%
14Georgia3.7%7.6%11.3%-48.9%269.3%
9Kansas3.8%23.8%22.4%-41.5%-4.4%
11Minnesota3.9%21.7%19.1%-50.5%124.4%
12Wisconsin3.9%16.6%18.9%-44.6%112.0%
22North Dakota3.9%64.3%73.0%-36.8%48.5%
16Iowa4.1%39.5%36.8%-32.3%25.3%
24Indiana4.1%29.7%29.5%-51.6%289.5%
17Missouri4.2%30.0%16.4%-38.9%81.9%
20Virginia4.2%51.7%60.2%-48.3%75.4%
13Arkansas4.3%23.6%17.6%-38.1%41.6%
28South Carolina4.3%69.9%66.5%-43.6%175.5%
15North Carolina4.4%15.7%23.8%-48.7%96.3%
18Kentucky4.4%1.2%1.0%-20.9%0.0%
26Tennessee4.7%43.4%27.2%-44.2%134.2%
19Michigan4.8%11.0%23.9%-47.8%33.4%
25Massachusetts4.9%60.5%69.2%-48.4%28.0%
32Maine4.9%77.1%59.7%-45.3%134.8%
21West Virginia5.0%3.0%-1.0%-46.2%31.8%
23Washington5.1%24.2%26.8%-52.9%64.1%
29Florida5.1%57.8%54.9%-54.6%129.7%
30Wyoming5.2%42.3%16.3%-23.5%19.8%
31Oregon5.2%47.2%58.6%-41.6%72.7%
27Ohio5.4%23.5%12.4%-43.9%49.2%
34Delaware5.6%54.1%29.2%-32.8%113.3%
33Rhode Island5.8%53.1%45.1%-58.8%80.3%
38Maryland6.0%64.7%68.9%-31.5%48.8%
35Mississippi6.1%8.8%8.5%-26.3%91.6%
47Colorado6.1%142.6%129.9%-14.3%112.7%
40Texas6.2%79.8%73.6%-32.6%56.0%
36Pennsylvania6.6%43.8%31.3%-50.7%62.8%
37Alaska6.6%20.5%30.9%-38.9%45.1%
39Arizona6.6%38.7%38.9%-36.8%46.4%
42Louisiana6.6%43.2%24.7%-23.3%171.6%
41District of Columbia6.7%25.7%33.4%-23.2%135.8%
44Illinois7.1%75.3%98.0%-40.6%117.3%
43New Jersey7.3%116.0%92.1%-46.7%43.6%
45Connecticut7.3%95.8%88.0%-38.2%46.4%
51Hawaii7.3%188.1%242.4%-47.9%93.0%
46New Mexico7.6%51.3%46.4%-38.7%133.3%
48New York7.6%96.4%96.9%-48.6%117.9%
49California7.6%81.9%74.0%-41.8%133.8%
50Nevada7.7%99.8%107.5%-51.5%200.8%

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