WalletHub: New Jersey is the state with the 2nd worst unemployment rate change

NEW JERSEY – New Jersey is the state with the 2nd worst unemployment rate change, according to a WalletHub study.

With the U.S. having gained 216,000 jobs in December, WalletHub Tuesday released updated rankings for its report on Changes in Unemployment Rate by State.

In order to take stock of how unemployment rates are changing throughout the U.S., WalletHub compared the 50 states and the District of Columbia based on six key metrics that compare unemployment rate statistics from the latest month for which data is available (December 2023) to key dates in 2023, 2022, 2020 and 2019.

Below, you can see highlights from the report:

Unemployment Change in New Jersey:

• Overall rank for New Jersey: 50^th
• 1.69% Change in Unemployment (December 2023 vs November 2023)
  • 231,786 unemployed people in December 2023 vs 227,945 in November 2023;
  • 24^th best change in the U.S.
• 47.44% Change in Unemployment (December 2023 vs December 2022)
  • 231,786 unemployed people in December 2023 vs 157,204 in December 2022;
  • The worst change in the U.S.
• -30.63% Change in Unemployment (December 2023 vs December 2020)
  • 231,786 unemployed people in December 2023 vs 334,119 in December 2020;
  • 16^th worst change in the U.S.
• 25.20% Change in Unemployment (December 2023 vs December 2019)
  • 231,786 unemployed people in December 2023 vs 185,135 in December 2019;
  • 6^th worst change in the U.S.
• 7.47% Change in Not Seasonally Adjusted Continued Claims (December 2023 vs November 2023)
  • 97,514 continued claims in December 2023 vs 90,735 in November 2023;
  • 18^th best change in the U.S.
• 4.8% Unemployment Rate (December 2023)
  • 5^th highest unemployment rate in the U.S.

For the full report, click here.