South Dakota Is the State with the 2nd Best Unemployment Rate Change

UNDATED – With inflation remaining high and the U.S. gaining 311,000 jobs in February, fewer than in the previous month, WalletHub today released updated rankings for its report on Changes in Unemployment Rate by State, along with a WalletHub Q&A.

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 (February 2023) to key dates in 2022, 2020 and 2019.

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

Unemployment Change in South Dakota:

• -2.19% Change in Unemployment (February 2023 vs January 2023)
  • 9,841 unemployed people in February 2023 vs 10,061 in January 2023;
  • 16^th best change in the U.S.
• -20.79% Change in Unemployment (February 2023 vs February 2022)
  • 9,841 unemployed people in February 2023 vs 12,424 in February 2022;
  • 12^th best change in the U.S.
• -17.92% Change in Unemployment (February 2023 vs February 2020)
  • 9,841 unemployed people in February 2023 vs 11,989 in February 2020;
  • 15^th best change in the U.S.
• -23.84% Change in Unemployment (February 2023 vs February 2019)
  • 9,841 unemployed people in February 2023 vs 12,921 in February 2019;
  • 7^th best change in the U.S.
• 7.11% Change in Not Seasonally Adjusted Continued Claims (February 2023 vs January 2023)
  • 2,698 continued claims in February 2023 vs 2,519 in January 2023;
  • 10^th worst change in the U.S.
• 2.1% Unemployment Rate (February 2023)
  • The lowest unemployment rate in the U.S.

To view the full report and your state’s rank, please visit: https://wallethub.com/edu/states-unemployment-rates/74907