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U.S. Job Market Recovering, But Louisiana Still Lagging

10:00 July 16, 2020
By: Sofia Gomez Alonso

According to WalletHub, 17.8 million Americans are still unemployed as a result of the COVID-19 pandemic, which has forced many employers to lay off thousands of workers in order to adapt to the resulting economic challenges. However, as states began to reopen earlier in the summer, there is evidence that the job market is starting to recover from the losses, as there has been a spike in hiring. The "June Jobs Report" conducted by WalletHub demonstrated that the United States has added 4.8 million nonfarm payroll jobs last month. This figure exceeded the predictions of experts and evidences that the reopening of states did have a positive impact on alleviating the impacts of unemployment. However, as more cases of COVID-19 continue to be reported nationwide, some states have been forced to slow down their reopening process, which could negatively impact the employment sector.

In order to identify how states are recovering from unemployment due to the COVID-19 pandemic, WalletHub compared the 50 states across three metrics that analyze changes in unemployment claims. Their findings proved that the states with the quickest recoveries from the loss of jobs since the beginning of the pandemic include Connecticut, Oregon, New Jersey, and Vermont. Some of the states with the least amount of jobs recovered since the beginning of the pandemic include Louisiana, Georgia, Florida, and Oklahoma. Louisiana ranks as the state with the least amount of jobs recovered since the first week of July and was also reported to be the worst state in terms of recovery of unemployment insurance claims.

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