Texas Ranking Among Coronavirus Unemployed Increase

COVID-19, also known as coronavirus, has had an unprecedented impact on the United States, and it’s being felt in many ways. One of the hardest hit is the economy, as many businesses are not able to stay open and maintain employees, due to social distancing or order from government. Because not many business models do not jive with a work-from-home staff, millions are unemployed, either momentarily or permanently. While the American government is working to get out stimulus checks to many of the population, struggles are likely to continue.  Some people even consider getting an unsecured personal loan, as the borrowers do not necessarily need a job or great credit.

Although an incredible number of first-time unemployment insurance claims have been made, the amount of unemployment attributed to COVID-19 is not the same across all states. WalletHub recently compared the 50 states, as well as the District of Columbia, across two significant metrics: the week of March 23 of 2019 and of 2020, and January 2020 to April. Below are the Texas-specific results of the study.

Photo: envato elements

The increase in Texas unemployment insurance initial claim because of coronavirus:

• 2,135.72% increase in the Number of Unemployment Insurance Initial Claims, from 12,327 (March 25, 2019 week) to 275,597 (March 23, 2020 week). This is the 8th lowest increase in the United States.
• 2,128.49% increase in the Number of Unemployment Insurance Initial Claims, from 12,367 in the first week of 2020 to 275,597 the week of March 23, 2020, which is the 20th highest increase in the United States.

Photo: envato elements

Full report and rank for Texas can be found here; video news from WalletHub can be found at this link as well: Biggest Increase in Unemployment due to Coronavirus. Other information pertaining to Texas includes ranking of states who are most aggressive against COVID-19 (#39) and which economics per state are most exposed by the pandemic (#35). Bookmark this site for helpful, up-to-date information about our economy during this time of uncertainty.

Originally published in April, 2020.