WY is One of the Least Affected States From Unemployment Increase
There has been a stark increase in unemployment due to the Covid-19 crisis throughout the country. Many businesses have been forced to lay off or furlough employees as a result. WalletHub recently gathered info on how much each state has been affected.
During this past week, of the 50 states, along with Washington D.C. accounting for an added area of distinction (51 total), Wyoming was the 50th most affected by the recent unemployment hike due to Covid-19. Connecticut was the only state finishing below us on that list. Conversely, that would mean we were the 2nd least affected state last week by the unemployment increase. Since the start of the Covid-19 crisis, we're the 4th least affected state by the unemployment increase.
That is not at all to say that Wyoming hasn't been hit hard by unemployment due to Covid-19, just as it has for every state. In Wyoming, since the start of the Covid-19 crisis, unemployment has increased by 1444.62% (that is the increase in April opposed to where we were in January). As it is everywhere, that is a scary number. Given that we're the 4th least affected state by this, that says something for what other states are dealing with right now.
Just to our south in Colorado, they were the most affected state last week and they are the 20th most affected state by unemployment due to Covid-19 since the start of the crisis. Last week, their unemployment claims jumped 4222.21% and has gone up 3341.62% overall. New Hampshire has the highest overall hike in unemployment since the start of the Covid-19 crisis at a 6429.42% increase.
Jobs lost due to Covid-19 have nearly wiped out all jobs created since the Great Recession. From February 2010 to February 2020, an estimated 22.7 million jobs had been created. Since March 16th, about 22 million jobs have been lost due to Covid-19. That is 2.5 times more the amount of jobs lost in the Great Recession.
These are all unsettling statistics in a very uncertain time without an end in sight. But hopefully, there will be a way out of all this sooner than later. Stay safe, everyone!