Colorado In Top Half for Job Recovery Last Month Nationwide
Unemployment rates continue to fall nationwide.
American continues to recover from the coronavirus pandemic. The good news is that things are bouncing back. Now, that doesn't mean everything has been easy and for many this has been a devastating year. We are all hurting in some way from this virus.
There are silver linings though.
More time with family coupled with a new focus on what really matters in life are paramount in my book. There are also some beacons of hope that we can look to that will carry us through whatever is left of COVID. One bright light is how our economy is bouncing back and that includes the job market. We've continued to see unemployment rates fall since the height of the virus in the spring.
The worst was in April when rates hit 14.7 percent.
According to WalletHub, that number is down to 8.4 percent and, while that is still a high number, it's encouraging to see it drop the way that it has. In addition to this, the economy added 1.4 million nonfarm payroll jobs. The number of jobs being added each month has been astounding. In fact, July saw 1.8 million added jobs.
With that being said, now that the August numbers are in, WalletHub has created a list ranking each state on their job recovery.
Colorado came in at number 33 on their list. Our unemployment rate is currently at 6.6 percent, a key determining factor in WalletHub's list. They also took into consideration the change unemployment compared to August of 2019, in addition to the difference measure up against January of this year. This is where it can get a little complicated since not every state's job market was hit in the same way.
Any way you slice it, we're headed in the right direction. We're also about to hit a time of year in which companies will be desperate for workers, the holiday season. If you're looking for a job or you just want to supplement your income, those seasonal jobs are already popping up.