Tue, Jan 24, 2023 10:07 AM
By Brett Davis, The Center Square
Washington ranked No. 17 on a list of states where unemployment claims are decreasing the most, according to recent study released by WalletHub.
To determine its rankings, the personal finance website compared all 50 states and the District of Columbia based on changes in unemployment claims for several key benchmark weeks, with a focus on the number of claims per 100,000 people in the labor force.
WalletHub analyst Jill Gonzalez spoke about factors related to the Evergreen State’s ranking.
“Washington is among the top 20 states where unemployment claims are decreasing the most,” she told The Center Square in an email. “The number of unemployment insurance initial claims in the latest week has declined by over 23% compared to the week before, and by almost 41% compared to the same week pre-pandemic, in 2019.”
Gonzalez elaborated on what that means.
“These are some of the biggest drops in the country,” she said. “This indicates that unemployment is no longer an issue and the state has recovered from the effects of the pandemic.”
In December, Washington gained 2,500 jobs, with the unemployment rate increasing to 4.2%, according to the state Employment Security Department. The unemployment rate was 4% in November.
Washington fared better than its Pacific Northwest neighbors.
Oregon ranked No. 44 and Idaho ranked No. 47.
The 10 states and state designates where unemployment claims are decreasing the most:
2. New Hampshire
3. New Jersey
4. District of Columbia
The 10 states and state designates where unemployment claims are decreasing the least:
50. Rhode Island