the staff of the Ridgewood blog
Trenton NJ, With the U.S. gaining 1.8 million jobs in July and the national unemployment rate at 10.2% 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 July 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. We looked at the change in each state’s unemployment during the latest month for which we have data (July 2020) compared to July 2019 and January 2020. We also compared not seasonally adjusted continued claims in July 2020 to July 2019. Finally, we 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.):
267.69% Change in Unemployment (July 2020 vs July 2019)
647,417 unemployed people in July 2020 vs 176,079 in July 2019;
4th worst recovery in the U.S.
223.17% Change in Unemployment (July 2020 vs January 2020)
647,417 unemployed people in July 2020 vs 200,336 in January 2020;
6th worst recovery in the U.S.
397.96% Change in Not Seasonally Adjusted Continued Claims (July 2020 vs July 2019)
485,809 continued claims in July 2020 vs 97,560 in July 2019
The best recovery in the U.S.
14.0% Unemployment Rate (July 2020)
5th 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/
The reason the unemployment is high in NJ is because Murphy won’t let businesses open and then when a Business opened illegally, (Gym), Murphy doesn’t allow them to prove that they can run their Business Safely.
Democrat controlled state all have higher unemployment rates. Then Democrats say the economy is bad but don’t say their the cause of it.
No unemployment amongst public sector workers
Tax payers can kiss our ass.
Go back to $600 per week unemployment and see how fast those pathetic public employees want the state opened for business. I say, go back to $600 per week and listen to Governor Horseface and keep the state closed. Turnabout is fair play.