Kentucky Has Best Unemployment Rate Recovery

So many residents in the Commonwealth have found themselves unemployed during these difficult times. According to a new report from WalletHub, Kentucky is bouncing back with the best recovery in the U.S.

We all know that filings for unemployment benefits spiked during the coronavirus pandemic began, but it looks like Kentucky is starting to recover. WalletHub just released updated rankings for the States Whose Unemployment Rates Are Bouncing Back Most. If you remember back in April,  Kentucky saw the 9th biggest increase in unemployment at that time. So, this is quite the comeback and finally good news to share.

Here's the breakdown:

Unemployment Recovery in Kentucky (1=Most Recovered, 25=Avg.):

• The lowest unemployment rate in the U.S.

In order to identify the states with the best recovery in unemployment rates, WalletHub compared the 50 states and the District of Columbia based on four key metrics. We looked at the change in each state’s unemployment rate during the latest month for which we have data (June 2020) compared to June 2019 and January 2020. We also compared not seasonally adjusted continued claims in June 2020 to June 2019. Finally, we considered each state’s overall unemployment rate.