New York Ranks Among Best for Fastest Unemployment Recovery
Over 10 million people across the country are unemployed due to the pandemic, and according to a recent weekly study, New York is among the week's fastest in the recovery effort.
It has been nearly a year since the first case of COVID-19 was identified in the United States, and while vaccinations have begun to be distributed, the pandemic is continuing to rage across the country. States have reopened at different rates, and some states have even paused their reopening plans, or adjusted due to new restrictions.
That said, the new unemployment claims have decreased week-over-week on January 1, which shows progress. Currently, there are 10.7 million people throughout the country that are unemployed due to the pandemic.
Wallethub conducts weekly studies to determine which states are experiencing the quickest recovery from COVID-19. To identify which states’ workforces are experiencing the quickest recovery from COVID-19, WalletHub compared the 50 states and the District of Columbia across three metrics based on changes in unemployment claims.
Here are the highlights of that study.
Change in New York Weekly Unemployment Claims:
- 56,184 the week of January 1, 2021, vs 45,065 the week of January 1, 2019
- 6th quickest recovery in the U.S.
- 56,184 the week of January 1, 2021, vs 44,846 the week of January 1, 2020
- 5th quickest recovery in the U.S.