With the U.S. gaining 638,000 jobs in October and the national unemployment rate at 6.9% compared to the nearly historic high of 14.7% at the peak of the coronavirus pandemic, WalletHub today released updated rankings for the States Whose October Unemmployment Rates Are Bouncing Back Most.
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 (October 2020) compared to October 2019 and January 2020. We also compared not seasonally adjusted continued claims in October 2020 to October 2019. Finally, we considered each state's overall unemployment rate.
Below, you can see highlights from the report, along with a WalletHub Q&A.
|Bounced Back Most||Bounced Back Least|
|1. Iowa||42. Arizona|
|2. Nebraska||43. Maryland|
|3. Vermont||44. Massachusetts|
|4. Missouri||45. District of Columbia|
|5. South Dakota||46. New Mexico|
|6. Montana||47. New York|
|7. Utah||48. California|
|8. Minnesota||49. Louisiana|
|9. Alaska||50. Nevada|
|10. South Carolina||51. Hawaii|
To view the full report and your state's rank, please visit: https://wallethub.com/edu/states-unemployment-rates/74907/