According to WalletHub’s latest report, post-pandemic, Utah’s unemployment rate has recovered more than any other state in the nation.
In order to identify the states whose unemployment rates are bouncing back most, personal finance website WalletHub compared the 50 states and the District of Columbia based on six key metrics that compare unemployment rate statistics from the latest month for which data is available (April 2022) to key dates in 2019, 2020 and 2021.
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“Job creation is still forward as fast as the labor supply will allow,” says Mark Knold, the chief economist for the Utah Department of Workforce Services. “Utah is at the top of state-level economic performance.”
New Mexico and Nevada are the only two states posting unemployment rates of 5% or more. Only the District of Columbia reported with a higher rate at 5.8%. WalletHub scored the District of Columbia at 51st.
The numbers in New Mexico are likely to worsen, as wildfires in northern parts of the state prompted offers of disaster unemployment assistance.
“This is an extremely trying time for thousands of our neighbors who are impacted by wildfires,” said Ricky Serna, acting cabinet secretary for the New Mexico Department of Workforce Solutions.
States at the bottom of WalletHub’s ranking were Alaska, Connecticut, Hawaii, Delaware, and New Mexico.