How quickly the states will recover from the boom of unemployment due to coronavirus: rating

The new coronavirus has taken over the United States and the whole world, temporarily paralyzing many industries that we are used to relying on. Over 6 weeks, US unemployment rate reached a new record level. The total number of new applications for unemployment benefits has exceeded 30 million since the onset of the crisis in mid-March. Writes about this GOBankingRates.

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Although Congress adopted a $ 2,2 trillion “rescue” package that provided incentive money to most taxpayers and increased unemployment insurance benefits by $ 600, these benefits are not enough for many working families.

Regardless of whether another bill to stimulate the economy is passed, local enterprises and businesses will not really begin to recover until the decree on isolation is repealed. As soon as officials can find a safe way for Americans to get back to work, a tangible way will appear to reduce the damage done by the virus. The question remains: which states are most likely to recover from the current unemployment crisis?

The study found a change in the overall unemployment rate for each state from January to March, as well as a change in unemployment in the main sectors of the state. These factors were used to determine not only which states experienced the largest jump in unemployment, but also which states suffered the most. The study ranks from the states least affected by unemployment to the states most affected. Moreover, those where high unemployment is most likely to recover faster after quarantine is lifted.

States that have experienced tremendous increases in unemployment are most likely to return to normal as soon as the business begins to reopen. As quarantine is lifted, the most affected industries will be able to recruit many of the employees they had to fire.

Idaho

• Unemployment rate in January 2020: 2,8%
• March 2020 unemployment rate: 2,6%
• Change in unemployment from January to March: -7,14%

Affected industries (total percentage of labor in January):

• Trade, transport and utilities (18,98%)
• Government (16,81%)
• Education and healthcare (14,46%)

Oklahoma

• Unemployment rate in January 2020: 3,3%
• March 2020 unemployment rate: 3,1%
• Change in unemployment from January to March: -6,06%

Affected industries (total percentage of labor in January):

• Government (20,93%)
• Trade, transport and utilities (17,86%)
• Education and healthcare (14,13%)

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Alaska

• Unemployment rate in January 2020: 6,0%
• March 2020 unemployment rate: 5,6%
• Change in unemployment from January to March: -6,67%

Affected industries (total percentage of labor in January):

• Government (24,13%)
• Trade, transport and utilities (20,05%)
• Education and healthcare (15,55%)

Mississippi

• Unemployment rate in January 2020: 5,5%
• March 2020 unemployment rate: 5,3%
• Change in unemployment from January to March: -3,64%

Affected industries (total percentage of labor in January):

• Government (20,92%)
• Trade, transport and utilities (19,97%)
• Education and healthcare (12,77%)

North Dakota

• Unemployment rate in January 2020: 2,3%
• March 2020 unemployment rate: 2,2%
• Change in unemployment from January to March: -4,35%

Affected industries (total percentage of labor in January):

• Trade, transport and utilities (21,04%)
• Government (18,95%)
• Education and healthcare (15,39%)

New Jersey

• Unemployment rate in January 2020: 3,8%
• March 2020 unemployment rate: 3,8%
• Change in unemployment from January to March: 0%

Affected industries (total percentage of labor in January):

• Trade, transport and utilities (21,13%)
• Education and healthcare (17,19%)
• Professional and business services (16,35%)

New York

• Unemployment rate in January 2020: 3,8%
• March 2020 unemployment rate: 4,5%
• Change in unemployment from January to March: 18,42%

Affected industries (total percentage of labor in January):

• Education and healthcare (22,12%)
• Trade, transport and utilities (15,74%)
• Government (15,13%)

Illinois

• Unemployment rate in January 2020: 3,5%
• March 2020 unemployment rate: 4,6%
• Change in unemployment from January to March: 31,43%

Affected industries (total percentage of labor in January):

• Trade, transport and utilities (19,72%)
• Education and healthcare (15,51%)
• Professional and business services (15,29%)

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California

• Unemployment rate in January 2020: 3,9%
• March 2020 unemployment rate: 5,3%
• Change in unemployment from January to March: 35,90%

Affected industries (total percentage of labor in January):

• Trade, transport and utilities (17,42%)
• Education and healthcare (16,22%)
• Professional and business services (15,61%)

Utah

• Unemployment rate in January 2020: 2,5%
• March 2020 unemployment rate: 3,6%
• Change in unemployment from January to March: 44,00%

Affected industries (total percentage of labor in January):

• Trade, transport and utilities (18,67%)
• Government (16,24%)
• Professional and business services (14,00%)

Nebraska

• Unemployment rate in January 2020: 2,9%
• March 2020 unemployment rate: 4,2%
• Change in unemployment from January to March: 44,83%

Affected industries (total percentage of labor in January):

• Trade, transport and utilities (19,24%)
• Government (16,78%)
• Education and healthcare (15,31%)

Florida

• Unemployment rate in January 2020: 2,8%
• March 2020 unemployment rate: 4,3%
• Change in unemployment from January to March: 53,57%

Affected industries (total percentage of labor in January):

• Trade, transport and utilities (20,12%)
• Professional and business services (15,57%)
• Education and healthcare (15,01%)

Colorado

• Unemployment rate in January 2020: 2,5%
• March 2020 unemployment rate: 4,5%
• Change in unemployment from January to March: 80,00%

Affected industries (total percentage of labor in January):

• Trade, transport and utilities (17,14%)
• Government (16,37%)
• Professional and business services (15,96%)

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Nevada

• Unemployment rate in January 2020: 3,6%
• March 2020 unemployment rate: 6,3%
• Change in unemployment from January to March: 75,00%

Affected industries (total percentage of labor in January):

• Recreation and tourism (24,86%)
• Trade, transport and utilities (18,14%)
• Professional and business services (14,30%)

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