What States Are Recovering The Quickest From The Pandemic?

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By CultureBanx Team

  • People filing ongoing unemployment claims in Georgia, Texas, and New York stand at 12%, 9% and 17%
  • African American’s suffered the largest unemployment rate again in July at 14.6%

The U.S. economy added another 1.8 million jobs in July, a sharp slowdown from June. It’s only a small step for an economy that’s still down 12.9 million jobs during the pandemic. African American’s suffered the largest unemployment rate again in July at 14.6%, which should be very concerning. Let’s identify which states’ workforces are experiencing the quickest recovery from COVID-19.

Why This Matters: Many states have recently experienced spikes with coronavirus cases since June, also registered the weakest employment recovery. This was most notably true for Georgia, Texas, and New York states with a Black population of 32%, 12.3% and 25% respectively. The percent of people filing ongoing unemployment claims in these states stand at 12% for Georgia, 9% for Texas, along with 17% for New York.

Economists are still trying to come to grips with how the labor market is behaving in this unparalleled situation

WalletHub compared the 50 states and the District of Columbia across three metrics based on changes in unemployment claims. The states that have recovered the quickest since the start of the pandemic include Connecticut, Oregon, and New Jersey, with Black populations of 9%, 3% and 12% respectively. Since the start of 2020, the states that have experienced the lowest recovery are Louisiana with a 32% Black population, along with Florida and Georgia.

Situational Awareness: Economists are still trying to come to grips with how the labor market is behaving in this unparalleled situation. They are also grappling with the question of what is too much aid during an economic crisis of unprecedented proportions, since the CARES weekly jobless boost of $600 to regular jobless aid. But this provision ran out on July 31.

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CONTRIBUTOR

CultureBanx Team

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