West Virginia ranks 21 in unemployment rate recovery according to report

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FILE – This May 7, 2020, file photo shows a man wearing a mask while walking under a Now Hiring sign at a CVS Pharmacy during the coronavirus outbreak in San Francisco. On Thursday, Nov. 12, the number of people seeking unemployment benefits fell last week to 709,000, the fourth straight drop and a sign that the job market is slowly healing. The figures coincide with a sharp resurgence in confirmed viral infections to an all-time high above 120,000 a day. (AP Photo/Jeff Chiu, File)

CLARKSBURG, W.Va. — A new report from WalletHub ranks West Virginia 21 in terms of recovering unemployment rate.

The report found that the national economy gained 943,000 non-farm payroll jobs. With that, the U.S. unemployment rate now sits at 5.4%, a meteoric drop from the 14.8% of last year.

This drop has been attributed to rising vaccinations and states reeling back restrictions.

Source: WalletHub

To find which states were recovering the best, WalletHub used five key metrics in two categories.

The first category compared the change in unemployment across various time gaps. They also compared not seasonally adjusted continued claims. The second category looked at the state’s overall unemployment rate. Then, the average is taken from those categories to place the rank.

West Virginia
Unemployment Rate
Change in Unemployment (July 2021 vs July 2020):

The numbers were calculated as such:

Change in Unemployment – Total Points: 50

  • Change in Unemployment in July 2021 vs. July 2019: Full Weight (~12.50 Points)
  • Change in Unemployment in July 2021 vs. January 2020: Full Weight (~12.50 Points)
  • Change in Unemployment in July 2021 vs. July 2020: Full Weight (~12.50 Points)
  • Not Seasonally Adjusted Continued Claims in July 2021 vs. July 2019: Full Weight (~12.50 Points)

Unemployment Rate – Total Points: 50

  • Unemployment Rate (July 2021): Full Weight (~50.00 Points)

The full report can be found here.

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