It should come as no surprise that the state of the job market differs greatly by region. While some states, like Colorado, Washington and Mississippi, continue to report rising joblessness, while others like New York have seen a drop in unemployment claims (from 13.91% to 7.04% week over week). North Dakota saw the biggest increase of unemployment rates this last week, while Michigan saw the smallest increase.
However, beyond merely reporting important employment statistics, WalletHub's most recent 'States Where Unemployment Claims Are Increasing the Most' gives valuable expert insights into the numbers.
David C. Yamada, a professor of law at Suffolk University, explains that the current job market is worse than before, but still not bad. "The job market is less employee-friendly than during the most acute labor shortage and 'Great Resignation' period of just two years ago, but the jobless rate remains low, and hiring in many fields holds steady. That said, older workers and laid-off workers continue to report facing hedgerows in their job searches."
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