Arizona among states whose unemployment rates are bouncing back most

With the U.S. gaining 1.4 million jobs in August and the national unemployment rate at 8.4% compared to the nearly historic high of 14.7% at the peak of the coronavirus pandemic, WalletHub today released updated rankings for the States Whose August Unemployment Rates Are Bouncing Back Most, along with accompanying videos and audio files, to illustrate which areas of the country have had the best recovery so far.

This report examines unemployment rates on a monthly basis, complementing the weekly analysis in WalletHub’s report on the States Whose Weekly Unemployment Claims Are Recovering the Quickest.

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. WalletHub looked at the change in each state’s unemployment during the latest month for which there is data (August 2020) compared with August 2019 and January 2020. WalletHub also compared not seasonally adjusted continued claims in August 2020 to August 2019. Finally, WalletHub considered each state’s overall unemployment rate.

To view the full report and your state’s rank, please visit: https://wallethub.com/edu/states-unemployment-rates/74907/