Lake Area Leads The Way In Lowering Missouri Unemployment

The Show Me State is being ranked 16^th out of 50 States and the District of Columbia when it comes to bouncing back from high unemployment.

Officials with WalletHub say Missouri saw a 7.1% unemployment rate in August, most of which came from new jobs in manufacturing and tourism in places like Springfield, Lake of the Ozarks and Sedalia.

The 7.1% remains one of the lowest nationwide, with only states like Idaho, South Dakota and Vermont having lower rates in the 4 to 5% range.

New York, Rhode Island and Hawaii had some of the worst unemployment rates ranging from 12 to 13%.

With the U.S. gaining 1.4 million jobs in August and the national unemployment rate at 8.4% 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 August 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 (August 2020) compared to August 2019 and January 2020. We also compared not seasonally adjusted continued claims in August 2020 to August 2019. Finally, we considered each state’s overall unemployment rate. Below, you can see highlights from the report, along with a WalletHub Q&A.

To view the full report and your state’s rank, please visit: https://wallethub.com/edu/states-unemployment-rates/74907/