Report Finds Unemployment Level Continuing To Drop

The employment market is continuing to move in a positive direction, as the latest jobs report shows that the national unemployment rate has fallen to 11.1%. That’s 25% below the peak of 14.

7% during the height of the Covid-19 pandemic. To provide more context at the city level, WalletHub released its report on the Cities Whose Unemployment Rates Are Bouncing Back Most, as a follow-up to its report on the States Whose Unemployment Claims Are Recovering the Quickest. This report uses new data from the Bureau of Labor Statistics, which recently disclosed that it erroneously didn’t count many workers on temporary layoffs as unemployed.

Therefore, the real unemployment rate may be around 11 percent higher than reported. This report includes both the official rate and an “adjusted” rate based on this error. Here is the list of most recovered cities from the report.

Most Recovered Cities 1. Lexington-Fayette, KY 11. West Valley City, UT 2.

Louisville, KY 12. Augusta, GA 3. Bismarck, ND 13.

Durham, NC 4. Nampa, ID 14. Tallahassee, FL 5.

Cheyenne, WY 15. Lubbock, TX 6. Las Cruces, NM 16.

Albuquerque, NM 7. Washington, DC 17. Lewiston, ME 8.

Billings, MT 18. Fort Smith, AR 9. Amarillo, TX 19.

Plano, TX 10. Boise, ID 20.