Coronavirus job losses are hitting these 3 states the hardest

Yahoo Finance ^ | 05/28/2020 | Zack Guzman

[SeekAndFind]

The number of jobs lost due to the coronavirus shutdown continue to mount, with the latest weekly total of Americans applying for unemployment benefits topping 2 million, yet again.

The latest swath of applications brings the total amount of jobless claims to more than 40 million over the past 10 weeks, wiping out the 20 million jobs added over the last decade by a two-to-one margin.

But some states have been feeling the impact of job losses more than others. A Yahoo Finance review of jobless claims data from the U.S. Department of Labor shows that Georgia and other states in the South have been particularly hard hit since the coronavirus pandemic brought the country’s economy to a grinding halt.

Comparing each state’s average weekly jobless claims totals over the past nine weeks to the week before shutdowns started occurring in March, reveals Georgia, Florida, and Kentucky to be the three states showing the largest percentage spike in people applying for unemployment benefits. Georgia, in particular, saw jobless claims average a more than 4,300% spike versus the week ending March 14. Florida and Kentucky saw slightly less dramatic peaks, with claims surging less than 4,000%.

Alabama and Virginia rounded out the top five hardest hit states, each averaging about a 3,000% spike in weekly average unemployment claims in the period observed.

[SeekAndFind]

The states with the highest unemployment rates:

1. Washington: 31%
2. Nevada 27%
3. Florida 25%
4. Hawaii 23%
5. Michigan 23%
6. California 20%
7. New York 20%
8. Rhode Island 19%
9. Vermont 18%
10. Connecticut and Georgia: 18%

[SeekAndFind]

[butlerweave]

Which States are the Nigerians included in ?

[Jeff Chandler]

Arizona: 12.6%

[cuban leaf]

Outside of the “big city” counties here in Kentucky, things are booming. The blue areas are pretty hard hit though. Traffic out here has not let up since February, but I’m under the impressions Louisville is a bit of a ghost town. I work there. I’ve been working from home and will be until at least the end of July and probably longer. And that saves me a three hour commute every single day. :)

[Mariner]

States with the most strident shutdown orders are least affected by unemployment?

How does that work?

[PGR88]

New York has 4 of the top 8 American cities for job losses.

NY State is the former Eastern Europe - one party, leftist states, slowly on the path of bankruptcy, where the only jobs are with government, and anyone with sense has to flee to the West.

[BBQToadRibs]

I’ve been a remote worker since 2007. I can’t see myself ever going back to the cube farm and a 3 hour round trip commute. (And gas bill, and business clothing $)

The downside of working from home -> the kitchen is just 30 seconds away.

[Zhang Fei]

[States with the most strident shutdown orders are least affected by unemployment?

How does that work?]

---

Huge % of government employees vs total employment, which is why they are the states hardest hit in terms of state government budget deficits. They are having to pay government workers through the shutdowns because to furlough them *might* cost the Democrats votes.

[SMARTY]

Maybe they already had low employment

[pepsi_junkie]

Keep in mind that for most of the Great Depression unemployment was in the 17-18% range. This is an ugly scenario the government created for us.

[suthener]

In Alabama right now unemployed are making over $800 a week. Many, many are making more than if they were working. As I posted yesterday, $800 a week in south Alabama is significant money. There are a lot of people who will not go back to work until they have to.

[Phillyred]

That’s the next problem ...many people won’t want to make less actually working again.

[FormerFRLurker]

So much for being just a blue state problem.

[FormerFRLurker]

If unemployment pays better than wages then maybe it’s time for employers to increase wages. Wages have failed to keep pace with inflation since the late 70’s. We the People are overdue for a raise, if only to keep up with the cost of living. If businesses are so determined to reopen during a pandemic they are going to have to start paying their workers more to compensate for the risk to the workers’ lives. This is just supply and demand, the lifeblood of the free market.

[TBP]

IOW, places the liberal elites don’t care about.

[Malsua]

States with the most strident shutdown orders are least affected by unemployment?

How does that work?

I live in NJ. There was one gym in my small town that closed. Everything else was open.

Now the town I work in was a little hit harder as there are two malls within half a mile of each other and both were closed. Everything else was open. I still don't see how this was such a crippling blow to the economy. I never stopped working and other than some of the people my company laid off when sales plummeted, I don't know anyone not working. All my neighbors are working as are all my friends and relatives.

[JimRed]

When employers pay higher wages, they have to charge more for their goods or services. Or barely survive/go broke. Economics 101.

[FormerFRLurker]

When employers pay higher wages, they have to charge more for their goods or services. Or barely survive/go broke. Economics 101.

When the majority of the people are too poor to afford to purchase their goods or services, as in many third world countries, businesses barely survive/go broke. Economics 101.

There, fixed it for ya. So-called "business leaders" who refuse to pay their employees decent wages and hire illegals instead deserve everything they get and then some IMO.