PublicWire | Emerging Market Stock News
  •  Home
  • Technology
  • Medical
  • Energy
  • Cannabis
  • Finance
  • Retail
  • General
  • Podcast
  • Videos
  • Services
  •  Home
  • Technology
  • Medical
  • Energy
  • Cannabis
  • Finance
  • Retail
  • General
  • Podcast
  • Videos
  • Services
No Result
View All Result
PublicWire
No Result
View All Result

Home » General » Here are the states that suffered the most unemployment due to COVID-19 pandemic

Louisiana tops the list of states with the most number of increase in unemployment insurance claims because of the COVID-19 pandemic.

Louisiana tops the list of states with the most number of increase in unemployment insurance claims because of the COVID-19 pandemic. Photo: Dain Nielsen | Flickr | CC BY-SA 2.0

Here are the states that suffered the most unemployment due to COVID-19 pandemic

by PublicWire
April 2, 2020
in General
Reading Time: 2 mins read
0

As the coronavirus pandemic continues to afflict the entire world, industries and markets are profoundly affected by government policies that are aimed to maximize social distancing. As an effect, many companies have closed down their stores and operations temporarily; lockdowns are preventing people from participating in trade, and employees are losing their jobs.

Unemployment has become the most apparent effect of the pandemic to the working class. In a new report published by WalletHub, millions of Americans have e found themselves temporarily or permanently out of a job at a record number of initial unemployment insurance claims, at over 6.6 million, for the week of March 23 alone.

The report analyzed and compared the 50 states and the District of Columbia in terms of the increase in the number of unemployment insurance initial claims in 2020 vs. 2019. Similarly, it also studied the rise of such requests within the months of 2020.

Louisiana tops the list

States such as Louisiana, North Carolina, Indiana, New Hampshire, Florida, Virginia, Michigan, Kentucky, District of Columbia, and New Mexico were the most affected states in terms of unemployment with increases in the number of unemployment insurance initial claims to the tune of more than 8,000%.

The state with the current most substantial number of COVID-19 cases in the U.S. is New York. “New York has seen a 717% increase in initial unemployment claims from the beginning of 2020 to the 13th week,” said Jill Gonzalez, WalletHub analyst. “This is better than the average increase of 2,002%.”

Source: WalletHub

Lousiana charted a 3198.22% increase in the number of unemployment claims between January 2020 and March 2020. Data from the firm also suggests that the Blue States are more affected in terms of the increase in unemployment claims.

Blue states appear to have been affected more

“With an average unemployment rank of 25, Blue States suffered a higher increase in their unemployment during the coronavirus outbreak than the Red States, which rank 27 on average,” said Gonzales. “The lower the rank, the higher the increase in initial unemployment claims that state received during the coronavirus pandemic.”

Meanwhile, the firm urges the White House to help companies through these trying times – especially those that are struggling the most. “States should aggressively focus on helping the companies in the most need. The federal response will include sending checks to most citizens, even those whose income has not been affected by the coronavirus. States can use a more targeted approach to divert resources to the companies affected the most, thus having a maximum impact for the money spent,” she added.

Read the full report here.

Previous Post

China is underreporting COVID-19 cases, U.S. intelligence community says

Next Post

Oil slightly recovers after Trump said a deal between Saudi Arabia and Russia might be reached in a ‘few days’

PublicWire

At PublicWire, we know the vast majority of all investors conduct their due diligence and get their news online in a variety of ways including email, social media, financial websites, text messages, RSS feeds and audio/video podcasts. PublicWire’s financial communications program is uniquely positioned to reach these investors throughout the U.S. and Canada as well as on a global scale.

Related Posts

General

China Opposed U.S. Audit Plans

May 24, 2020
0
JetBlue gives 100,000 free flights to healthcare workers.
General

JetBlue Announces ‘JetBlue Healthcare Hero’ Program — Giving Away 100,000 Free Flights to Healthcare Workers

May 6, 2020
0
Trans-Pacific flights are most likely to be affected the most with demand declining up to 80% due to the pandemic.
General

American Airlines is looking into canceling up to 60% of its summer schedules as the pandemic continues to push demand down

April 2, 2020
0
A report reveals that China is deliberately faking the number of COVID-19 cases and deaths.
General

China is underreporting COVID-19 cases, U.S. intelligence community says

April 1, 2020
0
Kristalina Georgieva also expressed her delight seeing that world leaders are realizing that a coordinated effort can quell the effects of COVID-19.
Finance

The world economy is on ‘recession,’ says IMF chief

March 28, 2020
0
President Donald Trump signed a $2 trillion coronavirus relief bill on Friday
General

Trump signs $2 trillion coronavirus relief

March 28, 2020
0
Next Post
President Donald Trump inspired a rise in oil futures after he said a deal between Saudi Arabia and Russia is underway.

Oil slightly recovers after Trump said a deal between Saudi Arabia and Russia might be reached in a 'few days'

Please login to join discussion

Subscribe To Our Newsletter

Loading
Ad
PublicWire | Emerging Market Stock News 24/7 | Investor Relations US Stock Market

© Copyright 2022 publicwire.com

Navigate Site

  • About
  • Contact Us
  • Disclaimer
  • Watch LIVE
  • Privacy Policy
  • Terms and Services
  • Contributors

Follow Us

No Result
View All Result
  • LIVE Investor News Channel
  • Cannabis
  • Energy
  • Finance
  • General
  • Medical
  • Podcasts
  • Retail
  • Technology
  • Videos

© Copyright 2022 publicwire.com

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.