COVID is, once again, becoming more rampant in the United States, resulting in the increase of unemployment rates; though the unemployment rate has risen, it is still 89 percent below what it was during COVID's peak. WalletHub compared the 50 states and the District of Columbia based on the change in unemployment claims in three different situations: latest week versus last year, latest week versus start of 2020, and since the start of COVID versus last year. On two accounts, Louisiana's recovery rate was the lowest of all other states and DC.
To compare results, WalletuHub created a number scale in which 1 represents the quickest recovery and 25 represents average recovery. Using this scale, WalletHub found that Louisiana was ranked 51 for "Recovered Most Since Last Week" and 48 in "Recovered Most Since Start of COVID-19 Crisis."
Louisiana had the slowest recovery in the U.S. from latest week versus last year, resulting in a 1,932.54 percent change in unemployment claims. 42,724 people reported that they were unemployed on November 9, 2020, but on November 11, 2019, only 2,102 people reported being unemployed. This proved to be the slowest recovery of all states in the U.S.
Louisiana also had the slowest recovery in the country when looking at the difference in unemployment claims from the latest week versus the start of 2020. There was a 2,476.84 percent change in unemployment claims during this time. The week of January 1, 2020, 1,658 people reported that they were unemployed, which is considerably less than the 42,724 people who reported that they were unemployed the week of November 9, 2020.
Louisiana exhibited the fourth slowest recovery in employment claims from the start of the COVID pandemic versus last year, resulting in a 1,570.01 percent change in unemployment claims. On March 18, 2019, 71,124 people reported that they were unemployed, yet a year later, on March 16, 2020, 1,116,653 people reported that they were unemployed.
According to Mayor LaToya Cantrell, as of November 18, Orleans Parish is in Code Red, indicating an active COVID outbreak due to rising infections, rising numbers of cases, and doubled reports of positive COVID tests.
To view WalletHub's full report, click HERE.