WalletHub logo trademarked by WalletHub

Updated WalletHub Study: Changes in Unemployment Rate by City

With inflation staying high but the U.S. gaining 372,000 jobs in June, WalletHub released updated rankings for its report on Changes in Unemployment Rate by City as a follow-up to our report on the States Where Unemployment Claims Are Decreasing the Most, along with accompanying videos and audio files.

Below, you can see highlights from the report, along with a WalletHub Q&A.
 

Best Change in Unemployment  
1. Miami, FL 11. Fremont, CA
2. Hialeah, FL 12. Santa Rosa, CA
3. Springfield, MO 13. Garden Grove, CA
4. Manchester, NH 14. Minneapolis, MN
5. Kansas City, MO 15. Huntington Beach, CA
6. Warwick, RI 16. Anaheim, CA
7. San Francisco, CA 17. St. Paul, MN
8. Nashua, NH 18. Santa Ana, CA
9. San Jose, CA 19. Oceanside, CA
10. St. Louis, MO 20. San Diego, CA

To view the full report and your city’s rank, please visit: https://wallethub.com/edu/cities-unemployment-rates/73647

WalletHub Q&A 

How are current labor shortages affecting the economy?

“The labor shortage we’re seeing right now was originally created by layoffs during the pandemic,” said Jill Gonzalez, WalletHub Analyst. “The problem is that only 25% of those laid off have returned back to work. If the shortage continues, there could be rising wages and even more inflation in the short term. In the long term, it could slow or stop GDP growth and bring about a recession.”

What qualities should unemployed people look for when choosing which businesses to apply to?

“Unemployed people can now be a little more picky when it comes to finding a job, since many businesses are in need of workers. If remote work is important to you, the leverage is there now more than ever to request at least a hybrid work schedule,” said Jill Gonzalez, WalletHub analyst. “That being said, recession is coming, so now is the time to become employed. Employees should look for businesses that have long term growth and needs that can outlast the recession.”

This article was released by WalletHub.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.