Also, Unemployment Claims in Kentucky Are 182.29% Higher Than the Previous Week
This news hit the wires late last week indicating for the week of June 26, new unemployment claims in Michigan were 123.15% higher than in the previous week, amid high inflation and the threat of a recession, according to WalletHub’s updated rankings for the States Where Unemployment Claims Are Increasing the Most.
States with Biggest Increases in Unemployment Claims
| State | Increased Most Since Last Week* | Claims per 100,000 People in Labor Force (Rank)** |
|---|---|---|
| Kentucky | 1 | 9 |
| Michigan | 2 | 5 |
| Ohio | 3 | 2 |
| Tennessee | 4 | 24 |
| Connecticut | 5 | 1 |
| Idaho | 6 | 19 |
| Indiana | 7 | 18 |
| Virginia | 8 | 46 |
| Rhode Island | 9 | 3 |
| Arkansas | 10 | 12 |
| New York | 11 | 8 |
Key Stats:
- Weekly unemployment claims in Michigan increased by 123.15% compared to the previous week. This was the 2nd biggest increase in the U.S.
- Weekly unemployment claims in Michigan were 6.72% higher than in the same week last year. This was the 21st smallest increase in the U.S.
- Weekly unemployment claims in Michigan were 76.97% higher than in the same week pre-pandemic (2019). This was the 3rd biggest increase in the U.S.
- Unemployment Insurance Initial Claims per 100,000 People in Labor Force in Michigan: 245
To view the full report and your state’s rank, please visit:https://wallethub.com/edu/states-unemployment-claims/72730
WalletHub Q&AHow long are record-low unemployment figures expected to continue?“Record low unemployment figures should not be expected to continue much longer,” says Jill Gonzalez, WalletHub Analyst. “The Federal Reserve rate hikes have already started a slowing of inflation, which in turn will cause unemployment numbers to increase. The hikes, coupled with the chances of a recession in the next 12 months at over 70 percent, are two leading causes of why we will see record-low unemployment come to an end sooner rather than later.”What job types are experiencing the highest levels of unemployment and why?“Certain job types are still seeing higher levels of unemployment currently. For instance, construction jobs have very high unemployment numbers right now due to building activity slowdown, with higher interest rates lowering demand for new individual housing,” said Jill Gonzalez, WalletHub Analyst.“Farming, fishing, and forestry jobs are also seeing high unemployment, which has more to do with technological advances and less about the current economy or pandemic recovery.”How would a potential recession affect unemployment?“A potential recession would negatively affect unemployment significantly. Losing a job is never good, but when you combine it with such high inflation it can really become disastrous,” said Jill Gonzalez, WalletHub Analyst. “Even Americans with jobs right now are struggling to afford essentials like food and gas. If those numbers would climb while more people become unemployed, we might see an economy in deep recession.”How do red states and blue states compare when it comes to new unemployment claims?“With an average rank of 25 among the states with the biggest increases in unemployment claims, red states fared worse last week than blue states, which rank 26 on average,” said Jill Gonzalez, WalletHub Analyst. “The lower the number of the ranking, the bigger the increase in the state's new unemployment claims was.” How has unemployment in the Mountain states – the division with the highest inflation growth in the past 12 months – been impacted?“Among Mountain states, Colorado’s unemployment claims have experienced the 6th smallest decrease in the U.S. For the week of June 26, Colorado had 1,737 new unemployment claims, a 22% decrease from the previous week. On the other hand, unemployment claims in Idaho have experienced a 66% increase for the same period.”
