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States Whose Unemployment Rates Are Bouncing Back Most

From: WalletHub

November’s jobs report showed a slowdown in job growth. The economy gained 210,000 nonfarm payroll jobs, compared to 546,000 the previous month. In November, there were notable gains in sectors including professional and business services, transportation and warehousing, construction, and manufacturing.

Now, the U.S. unemployment rate sits at 4.2%, which is still higher than it was before the pandemic but is much lower than the nearly historic high of 14.8% in April 2020. This overall drop can be attributed largely to a combination of vaccinations and states loosening restrictions. It will take far more time for us to reduce the unemployment rate to pre-pandemic levels than it did for the virus to reverse over a decade of job growth, though.

In order to identify the states whose unemployment rates are bouncing back most, WalletHub compared the 50 states and the District of Columbia based on five key metrics that compare unemployment rate statistics from the latest month for which data is available (November 2021) to key dates in 2019 and 2020. Read more.