New Report Shows Where Colorado Ranks in Job Market Recovery
Some states are recovering faster than others.
With the nation opening up I can't help but feel like we are slowly but surely putting ourselves back together again. I'm sure many of us have felt like Humpty Dumpty and there is no way to put us back together, but we can. In fact, we are already seeing an increase in job market recovery across the board. It's not evenly dispersed by any means however, it's a step in the right direction.
Recently, Zac Guzman of Yahoo Finance released a job market health report.
Right off the bat you can see that there has been a decrease in the number of jobless claims. Taking initial claims from the first five weeks of the pandemic and comparing them to the number of claims we've seen in the last five weeks, he was able to show a percentage decrease in each state. Many states are hovering around the 60-70 percent decrease in jobless claims.
Colorado has seen a 69.8 percent decrease in jobless claims compared to the early stages of the pandemic.
Compared to the rest of the states, we sit in the number 12 position. The state that has shown the biggest decline in jobless claims (a.k.a. the most job market recovery) is Rhode Island at a 78.1 percent decline. They were followed by Vermont, Michigan, Montana and Idaho. Oklahoma and Georgia were on the other side of the list with the least decline in jobless claims, at 18.8 and 29.1 percent respectively. Again, although there is quite a disparity between those states recovering well and those not so well, there is still recovery happening.
And I'll take any positive news we can get right now.