Although unemployment numbers are down from the 2020’s astronomical rates, it still sits pretty high at 3.6%. Last month’s jobs report showed a slowdown in growth with 431,000 nonfarm payroll jobs, compared to 750,000 the previous month.
In a recently released ranked list, WalletHub shared which states’ unemployment rates are bouncing back most and how they’ll fare in the future.
They said they determined the 51 states’ (including the District of Columbia) ranking by comparing the change in unemployment for the latest month comparing data from the last two years, and took a look at seasonally adjusted continued claims from March 2022 to March 2019. In the second category, they evaluated the state’s overall unemployment rate and used the average of those categories to rank the states.
In order, the top 10 states who are doing best in getting people back to work are Nebraska, Indiana, Montana, Utah, Kansas, Minnesota, New Hampshire, Oklahoma, Arizona, and Alabama.
Coming in at the bottom of the list in order from 41to 51 with the highest unemployment rates are Alaska, New York, Texas, Illinois, Connecticut, Delaware, California, Massachusetts, Maryland, New Mexico, Hawaii, and the District of Columbia.
The list revealed that the states with the most employed residents showed a high number of manufacturing job opportunities. Additionally, the cost of living was lower in these places as well.