Skip to comments.These US states suffer from the weakest job recovery as election approaches
Posted on 10/29/2020 11:46:23 AM PDT by SeekAndFind
The final jobless claims report before the election showed the latest weekly total of Americans applying for unemployment benefits dropped slightly to 751,000.
While that number was slightly better than expected, the job losses racked up through the pandemic have contributed to a lumpy employment picture with some states recovering more quickly than others. Unemployment applications nationally have receded from the record high of more than 6 million weekly claims back in April, but a closer look at the state-level filings reveals some regions continue to suffer from stubbornly high job losses months into the recovery.
According to the Department of Labors latest report, which breaks out the insured unemployment rate (a ratio of people on unemployment benefits divided by labor force) at the state level through October 10, Hawaii is still suffering the worst employment picture with a nation-leading insured unemployment rate of 12.6%. The Aloha state has suffered the highest insured unemployment rate in the U.S. since the week ending August 8.
California held steady at second on the list with an unemployment rate at 10.5%, while Nevada remained in the third spot with its own insured unemployment rate at 10%. Georgia and the District of Columbia followed at 8.3% and 7.9%, respectively. All of the top regions are suffering from notably higher insured unemployment rates relative to the national average of 5.8% for the same week.
Compared to pre-pandemic levels, those unemployment rates are notably higher than the worst states listed in the week ended February 22. Back then, Alaska topped the nation with a similar unemployment rate at just 2.9%. As high as the unemployment rates are now in the hardest hit states, they have still marginally improved from peaks seen months prior. Nevada, for example, has seen its unemployment rate improve
(Excerpt) Read more at finance.yahoo.com ...
As those states are still locked up, how can they recover??
Most of this is as expected, but, what’s “wrong” in Georgia?
Is Georgia a Leftist state? I could be wrong, but thought it was more conservative leaning.
Nevada lost thousands of casino/hotel jobs. Cooks, maids, etc. Many left the state. And those people vote Dem.
This bodes well for a NV to go red in 2020.
Hawaii is a huge problem because of that state’s very heavy dependence on tourism—a business that has screamed to a halt due to COVID-19.
NYS admits yo 9.7%
In parts of the state it’s way higher.
But no mention in the article.
What the heck is an “insured” unemployment rate?
The airline industry layoffs have hit Delta hard, as well as businesses around ATL associated with it.
California will rebound on January 1st. when the Pandemic Unemployment payments stop.
10 years of importing Hollywood will wreck a state.
A lot of unemployed people don’t count as unemployed. Are you a contractor whose work has dropped by 90%? Not counted. Are you a student who has dropped out of school but can’t find work? Not counted. Business closed by government mandates and PPP ran out? Not counted.
Well, at least they have Nick De Paolo down there...:)
I can imagine.
HINT: They're all governed under the abject tyranny of Democrat/Leftists/Communists Party leaders.
Still, Pub Governor since 2003, Pub State House since 2005, Pub State Senate since 2002. Georgia should be a super-business-friendly, high employment state!
It is amazing how Yahoo Finance and other branches are going negative on the GOP as the election draws near. All Yahoo articles are leaning left. Also note, that Yahoo months back eliminated comments to their articles as the election neared. That is so nobody could reply to their left-leaning articles.
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