The U.S. unemployment rate sits at 3.5 percent, down from a high of 14.7 percent in April 2020, due to a combination of vaccinations and states removing restrictions. But inflation and a possible recession could drive the unemployment rate higher if the Federal Reserve rate increases cannot hold them off, according to a WalletHub report published Jan. 24.
WalletHub analyzed unemployment rates in the 50 states and the District of Columbia based on six key metrics that compare unemployment rate statistics from December (the latest month for which data is available) to key dates in 2022, 2021, 2020 and 2019.
Here are the 10 states with the best change in unemployment rates and the 10 states with the worst change in unemployment rates, according to the research:
|
Best Change in Unemployment |
Worst Change in Unemployment |
|
1. Florida |
42. Connecticut |
|
2. South Dakota |
43. Ohio |
|
3. Missouri |
44. Michigan |
|
4. Utah |
45. District of Columbia |
|
5. North Dakota |
46. Maine |
|
6. Minnesota |
47. Washington |
|
7. Montana |
48. Delaware |
|
8. Alabama |
49. Illinois |
|
9. Georgia |
50. Oregon |
|
10. Hawaii |
51. Nevada |