U.S. markets closed
  • S&P 500

    3,298.46
    +51.87 (+1.60%)
     
  • Dow 30

    27,173.96
    +358.56 (+1.34%)
     
  • Nasdaq

    10,913.56
    +241.26 (+2.26%)
     
  • Russell 2000

    1,474.91
    +23.09 (+1.59%)
     
  • Crude Oil

    40.04
    -0.27 (-0.67%)
     
  • Gold

    1,864.30
    -12.60 (-0.67%)
     
  • Silver

    22.99
    -0.21 (-0.91%)
     
  • EUR/USD

    1.1637
    -0.0038 (-0.33%)
     
  • 10-Yr Bond

    0.6590
    -0.0070 (-1.05%)
     
  • GBP/USD

    1.2744
    -0.0007 (-0.06%)
     
  • USD/JPY

    105.5000
    +0.0980 (+0.09%)
     
  • BTC-USD

    10,734.38
    -0.98 (-0.01%)
     
  • CMC Crypto 200

    230.19
    +12.36 (+5.67%)
     
  • FTSE 100

    5,842.67
    +19.89 (+0.34%)
     
  • Nikkei 225

    23,204.62
    +116.82 (+0.51%)
     

These 9 states are suffering from the worst unemployment rates

Zack Guzman
·Senior Writer

The number of jobs lost due to the coronavirus shutdown continue to mount, with the latest weekly total of Americans applying for unemployment benefits coming in at another 1.2 million.

The latest swath of applications brings the total amount of jobless claims to more than 54 million over the past four months, wiping out the 20 million jobs added over the last decade by a near three-to-one margin.

Read more: What to do before you lose your job

While some states have seen unemployment applications recede from record highs after the coronavirus pandemic roiled America’s employment picture, some have suffered stubbornly high job losses months into the recovery. Those have stacked up in some states to see unemployment rates shoot as high as 20%.

According to the Department of Labor’s latest report, which breaks out the insured unemployment rate (a ratio of people on unemployment benefits divided by a state’s labor force) through July 18, Nevada is currently suffering the worst employment picture with a nation-leading insured unemployment rate of nearly 25%. Hawaii, California, Louisiana, and New York round out the top five states, all suffering with unemployment rates that top 16%.

map
map

Connecticut, Georgia, Massachusetts and Michigan, with an insured unemployment rate of 13.8%, round out the top nine states that the Department of Labor include in their latest report.

Compared to pre-pandemic levels, those unemployment rates are notably higher than the worst states listed in the week ended February 22. Back then, Alaska topped the nation with a similar unemployment rate at just 2.9%. As high as the unemployment rates are now in the hardest hit states, they have still marginally improved from peaks seen months prior. Nevada, for example, has seen its unemployment rate improve 2 percentage points from 27% during the week ended May 9.

As a Yahoo Finance review of jobless claims data showed last week, some states are recovering more quickly than others, but all are still struggling with varying economic restrictions tied to controlling the spread of the coronavirus.

Zack Guzman is the host of YFi PM as well as a senior writer and on-air reporter covering entrepreneurship, cannabis, startups, and breaking news at Yahoo Finance. Follow him on Twitter @zGuz.

Read the latest financial and business news from Yahoo Finance

Read more:

This $3 billion online education company is seeing a 'paradigm shift' due to coronavirus

Netflix co-founder brushes off NBC's new Peacock streaming competitor

Small US towns are neglected from coronavirus relief and it's a 'slap in the face': Georgia mayor

Why Costco could see a lasting boost from coronavirus panic buying