Fri, May 20, 2022 2:41 PM
By Brett Davis, The Center Square
Washington state ranked 34th out of 50 states and the District of Columbia in terms of states whose unemployment rates are bouncing back the most from the COVID-19 pandemic.
That’s according to an analysis by personal finance website WalletHub.
“April’s jobs report showed a slight slowdown in growth,” the report states. “The economy gained 428,000 nonfarm payroll jobs, the same as the previous month. In April, there were notable gains in sectors including leisure and hospitality, manufacturing, transportation, and warehousing.”
To calculate its rankings, WalletHub compared all 50 states and the District of Columbia based on six key metrics looking at April 2022 unemployment rate statistics and comparing them to key dates in 2019, 2020, and 2021.
“Washington ranks among the bottom twenty states whose unemployment rates are the slowest to recover,” WalletHub analyst Jill Gonzalez told The Center Square via email. “This is mostly because of the less than 26% drop in the number of unemployed people in April of this year compared to April 2021, which is one of the lowest in the country.”
She went on to note, “Plus, the state had over 6% more unemployed people in April than it had in January 2020, before the pandemic started. Washington's overall unemployment rate is 4.1%, which is higher than the national average of 3.6%.”
The WalletHub report notes that the 3.6% national unemployment rate is “slightly higher than it was before the pandemic but is far lower than the nearly historic high of 14.7% in April 2020.”
Washington’s neighboring states in the Pacific Northwest were ranked ahead of the Evergreen State in terms of employment rate bounce back. Oregon came in at No. 29 and Idaho was ranked No. 12.
States whose unemployment rates are bouncing back the most:
6. New Hampshire
8. South Dakota
States and state designates whose unemployment rates are bouncing back the least:
51. District of Columbia
50. New Mexico