Statewide Iowa — With the U.S. gaining 1.8 million jobs in July and the national unemployment rate at 10.2% compared to the nearly historic high of 14.7% at the peak of the coronavirus pandemic, the website WalletHub.com has released updated rankings for the States Whose July Unemployment Rates Are Bouncing Back Most, to illustrate which areas of the country have had the best recovery so far.
Iowa was ranked number 7 in the list of states whose unemployment 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. They looked at the change in each state’s unemployment numbersduring the latest month for which they had data (July 2020) compared to July 2019 and January 2020. They also compared not seasonally adjusted continued claims in July 2020 to July 2019. Finally, they considered each state’s overall unemployment rate.
In addition to Iowa, Nebraska, Wisconsin and Missouri all cracked the Top 10, coming in at number 4, number 8 and number 9, respectively. South Dakota comes in at number 11, with Kansas at number 14 and North Dakota at 15. Idaho was ranked as having the best unemployment rate recovery, while Massachusetts claimed the bottom slot in the study.
Here’s how each state, along with the District of Columbia, fared in the study…………………..
| Overall Rank | State | Unemployment Rate (July 2020) | Change in Unemployment (July 2020 vs July 2019) | Change in Unemployment (July 2020 vs January 2020) | Not Seasonally Adjusted Continued Claims (July 2020 vs. July 2019) |
|---|---|---|---|---|---|
| 1 | Idaho | 4.7% | 76.9% | 38.0% | 428.4% |
| 2 | Utah | 4.6% | 72.2% | 65.3% | 910.5% |
| 3 | Kentucky | 6.2% | 15.5% | 18.3% | 696.1% |
| 4 | Nebraska | 5.0% | 52.1% | 60.8% | 1081.0% |
| 5 | Montana | 6.0% | 94.0% | 38.2% | 613.6% |
| 6 | Wyoming | 6.8% | 90.6% | 61.3% | 602.8% |
| 7 | Iowa | 6.5% | 117.9% | 65.3% | 635.1% |
| 8 | Wisconsin | 7.0% | 89.7% | 64.0% | 699.0% |
| 9 | Missouri | 7.2% | 91.3% | 69.3% | 662.8% |
| 10 | Arkansas | 7.5% | 74.5% | 78.3% | 581.4% |
| 11 | South Dakota | 6.0% | 98.5% | 62.3% | 1300.4% |
| 12 | Oklahoma | 7.1% | 105.0% | 115.6% | 737.8% |
| 13 | Maryland | 7.7% | 97.8% | 118.6% | 660.1% |
| 14 | Kansas | 7.7% | 104.4% | 128.7% | 733.8% |
| 15 | North Dakota | 6.4% | 183.2% | 130.3% | 1058.5% |
| 16 | District of Columbia | 8.9% | 46.4% | 67.7% | 910.3% |
| 17 | Minnesota | 7.4% | 133.3% | 105.1% | 1042.4% |
| 18 | Alabama | 8.2% | 160.8% | 152.2% | 401.0% |
| 19 | Texas | 8.2% | 110.9% | 114.1% | 944.4% |
| 20 | Ohio | 9.1% | 95.7% | 78.6% | 810.4% |
| 21 | West Virginia | 9.7% | 95.6% | 70.8% | 594.4% |
| 22 | Colorado | 7.4% | 167.1% | 153.9% | 1199.8% |
| 23 | Michigan | 9.5% | 83.4% | 119.9% | 950.3% |
| 24 | Indiana | 7.9% | 122.1% | 118.4% | 1541.7% |
| 25 | Alaska | 10.8% | 89.1% | 70.8% | 701.5% |
| 26 | North Carolina | 8.9% | 101.0% | 113.5% | 1448.3% |
| 27 | Washington | 10.2% | 147.0% | 131.5% | 721.8% |
| 28 | Connecticut | 10.3% | 162.0% | 133.1% | 600.6% |
| 29 | Vermont | 8.2% | 242.3% | 175.8% | 1074.9% |
| 30 | Virginia | 8.0% | 166.7% | 162.1% | 1617.7% |
| 31 | Arizona | 10.9% | 115.5% | 132.4% | 700.8% |
| 32 | Louisiana | 9.9% | 74.9% | 69.2% | 1733.8% |
| 33 | Georgia | 8.0% | 104.0% | 124.8% | 2246.1% |
| 34 | Mississippi | 11.5% | 76.2% | 112.4% | 777.5% |
| 35 | New Hampshire | 7.9% | 198.8% | 148.2% | 1784.6% |
| 36 | Tennessee | 9.9% | 138.6% | 147.3% | 1151.5% |
| 37 | Oregon | 10.6% | 156.3% | 177.0% | 637.9% |
| 38 | Delaware | 10.6% | 167.6% | 162.4% | 678.0% |
| 39 | South Carolina | 8.8% | 204.1% | 212.1% | 1176.4% |
| 40 | Illinois | 11.3% | 158.4% | 182.5% | 591.0% |
| 41 | Maine | 9.4% | 258.0% | 140.8% | 1449.7% |
| 42 | Rhode Island | 11.4% | 195.2% | 185.3% | 597.4% |
| 43 | New Mexico | 13.3% | 131.5% | 154.6% | 1073.5% |
| 44 | Pennsylvania | 14.1% | 186.9% | 176.3% | 558.1% |
| 45 | California | 13.7% | 202.1% | 208.5% | 925.0% |
| 46 | New Jersey | 14.0% | 267.7% | 223.2% | 398.0% |
| 47 | Florida | 11.5% | 230.1% | 273.1% | 1563.1% |
| 48 | Nevada | 14.2% | 234.3% | 252.9% | 1832.8% |
| 49 | Hawaii | 13.1% | 352.0% | 328.4% | 1701.7% |
| 50 | New York | 16.0% | 286.8% | 295.9% | 1048.0% |
| 51 | Massachusetts | 16.2% | 397.1% | 369.2% | 800.1% |
To view the full report, please visit: https://wallethub.com/edu/states-unemployment-rates/74907/
