While Covid-19 cases remain on the rise in the U.S., the nation does seem to be recovering from the job losses caused by the epidemic earlier in the year, according to WalletHub.
The personal finance website studied which states (including the District of Columbia) are recovering from the job losses the fastest and found that last week there were 1.3 million new unemployment claims across the nation, down from 6.9 million during the peak of the epidemic.
The June jobs report showed that the U.S. added 4.8 million nonfarm payroll jobs during the month, which topped forecasts, the report noted.
"This demonstrates that the process of reopening states has had a positive impact, and many workers who were temporarily laid off while their employers remained closed are now being rehired," the report stated. "However, some states are temporarily pausing their reopening processes due to Covid-19 spikes, which is necessary but may slow down job growth in the near future."
Some of the states hit hardest by the epidemic are slowly recovering, according to the report.
New York, the state that has endured the most Covid-19 cases, was ranked 11th in terms of how fast it is getting jobs back. New Jersey, also among the epidemic hot spots a few months ago, ranked 15th.
The states facing a new wave of cases, however, have a longer recovery ahead, the report said. For example, Texas and Florida ranked 46th and 48th, respectively.
The rankings were based on a comparison between the number of claims filed in each state last week, compared with the numbers filed during the same period last year and at the start of the year.
The following states have seen the greatest drop in unemployment claims since last week, according to WalletHub:
10. Vermont
1. Oregon
The full report can be viewed here.
