Michigan's Unemployment Claims Have Experienced The 6th Quickest Recovery In The U.S.
Change in Michigan Unemployment Claims (1=Quickest Recovery, 25=Avg.):
- 259.90% Change in Unemployment Claims (Latest Week vs Last Year)
- 18,783 the week of June 15, 2020 vs 5,219 the week of June 17, 2019
- 8th quickest recovery in the U.S.
- 42.22% Change in Unemployment Claims (Latest Week vs Start of 2020)
- 18,783 the week of June 15, 2020 vs 13,207 the week of January 1, 2020
- 3rd quickest recovery in the U.S.
- 2,167.83% Change in Unemployment Claims (Since Start of COVID-19 Crisis vs. Last Year)
- 1,612,869 between the week of March 16, 2020 and the week of June 15, 2020 vs 74,400 between the week of March 18, 2019 and the week of June 17, 2019
- 13th slowest recovery in the U.S.
New unemployment claims last week were 78% below the peak during the COVID-19 pandemic, according to the latest jobs report. To help add some context to that statistic, WalletHub just released updated rankings for the States Whose Unemployment Claims Are Recovering the Quickest, along with accompanying videos and audio files.
To identify which states' workforces are experiencing the quickest recovery from COVID-19, WalletHub compared the 50 states and the District of Columbia across three metrics based on changes in unemployment claims. Below, you can see highlights from the report, along with a WalletHub Q&A. To see the states most recovered since the beginning of the COVID-19 pandemic, click here.
To view the full report and your state's rank, please visit:
https://wallethub.com/edu/states-unemployment-claims/72730/.
WalletHub Q&A
Do job losses from the COVID-19 pandemic tend to be temporary or permanent?
"Job losses caused by the COVID-19 pandemic are mostly temporary, as May's jobs report shows 15.3 million people on temporary layoff compared to 2.9 million who have permanently lost their jobs," said Jill Gonzalez, WalletHub analyst. "Most jobless Americans expect to be rehired by their former employers, but exactly how soon that can happen will depend on both how quickly states are able to reopen and how safe the government and businesses can make customers feel. For example, mandatory COVID-19 testing before entering an airport could significantly alleviate people's concerns about flying again."
How is the wearing of masks linked to unemployment?
"Wearing masks helps prevent the release of droplets from the mouth or nose that may contain COVID-19, which consequently can help minimize the spread of the virus. Countries with more prevalent mask wearing have been less impacted by coronavirus, so mandating the use of masks in public may help us proceed to a full reopening sooner," said Jill Gonzalez, WalletHub analyst. "Consumers are more comfortable going out when they know everyone will be wearing masks, according to a recent WalletHub survey, and greater confidence leads to more people leaving the house and supporting businesses again."
Will the recent unrest across the U.S. affect unemployment?
"The recent rioting seen in many states will have an impact on unemployment, as it comes at a time when many businesses are just beginning to reopen after being closed for months during the COVID-19 pandemic," said Jill Gonzalez, WalletHub analyst. "This could be devastating for business owners who need to rebuild at a time when they already lack revenue, as well as for the employees of those businesses who will join the tens of millions of Americans already without a job."
How do red states and blue states compare when it comes to recovery?
"With an average rank of 22 among the most recovered states, blue states had a better recovery from unemployment claims last week than red states, which rank 29 on average," said Jill Gonzalez, WalletHub analyst. "The lower the number of the ranking, the bigger the state's recovery was."
How has unemployment in New York – the state with the most COVID-19 cases – recovered?
"New York's unemployment claims have experienced the 25th slowest recovery in the U.S. For the week of June 15, New York had 90,186 new unemployment claims, a 77% decrease from the peak during the coronavirus pandemic," said Jill Gonzalez, WalletHub analyst.
