With the U.S. gaining 245,000 jobs in November and the national unemployment rate at 6.7% compared to the nearly historic high of 14.7% at the peak during the coronavirus pandemic, WalletHub today released updated rankings for the States Whose November 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.

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 WalletHub has data (November 2020) compared to November 2019 and January 2020. WalletHub also compared not seasonally adjusted continued claims in November 2020 to November 2019. Finally, WalletHub considered each state’s overall unemployment rate.

Below, you can see highlights from the report, along with a WalletHub Q&A.

Unemployment Recovery in New Jersey (1=Most Recovered, 25=Avg.):

• 184.87% Change in Unemployment (November 2020 vs November 2019)
  • 447,511 unemployed people in November 2020 vs 157,091 in November 2019;
  • 2nd worst recovery in the U.S.
• 123.38% Change in Unemployment (November 2020 vs January 2020)
  • 447,511 unemployed people in November 2020 vs 200,336 in January 2020;
  • 3rd worst recovery in the U.S.
• 97.52% Change in Not Seasonally Adjusted Continued Claims (November 2020 vs November 2019)
  • 157,386 continued claims in November 2020 vs 79,682 in November 2019
  • 4th best recovery in the U.S.
• 9.9% Unemployment Rate (November 2020)
  • 3rd highest unemployment rate in the U.S.

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