Sunday, July 21, 2024

Louisiana middle of the pack in quickest workforce recovery from COVID-19

by BIZ Magazine

The U.S. is making significant progress in the fight against COVID-19 with the distribution of the vaccine and boosters, and this has been reflected in the job market, says a new report by WalletHub.

Louisiana ranks middle of the pack when it comes to the state’s workforce experiencing the quickest recover from COVID-19. Specifically, No. 23 overall in recovery.

With new unemployment claims increasing slightly week-over-week on June 27, there are currently 6 million Americans unemployed due to the COVID-19 pandemic in total.

Some key stats for the latest week to get the full picture:

  • There were 235,000 new unemployment claims nationwide, which is a lot fewer than the 6.1 million during the peak of the pandemic (a 96% reduction).
  • The good news is that every state, except New Jersey, Mississippi, Ohio, and Michigan had unemployment claims last week that were better than the same week last year.
  • Every state had unemployment claims last week that were lower than before the pandemic except for California, Texas, Hawaii, Massachusetts, Oregon, New York, Utah, Mississippi, Georgia, Michigan, Colorado, Ohio, and Indiana.

To identify which states’ workforces are experiencing the quickest recovery from COVID-19, WalletHub compared the 50 states and the District of Columbia based on changes in unemployment claims for several key benchmark weeks. You can see the full report here: https://wallethub.com/edu/states-unemployment-claims/72730.

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