Kansas ranks 5th for best unemployment recovery in recent study
WalletHub ranks Kansas 5th in best unemployment recovery in May 2022 unemployment report
TOPEKA, Kan. (WIBW) - A recent WalletHub study found that Kansas ranks 5th among the 50 states and the District of Columbia in the May unemployment rankings with an unemployment rate of just 2.3%.
The 4 states ahead of Kansas are (1) Minnesota, (2) New Hampshire, (3) Nebraska and (4) Indiana for unemployment recovery, although Kansas overall has the 6th lowest unemployment rate.
To determine which states recovered best in unemployment between April 2022 and May 2022, WalletHub used the unemployment rates May 2019, 2020 and 2021 along with January 2020 and the current unemployment rate and then used the average to figure their rankings.
When compared to 2019, the study found that the May 2022 unemployment rate has decreased by 23% from 46,082 unemployed people to 35,359 unemployed people this May. When compared to May 2021, the study found an unemployment decrease of 31% from over 51,000 people in May 2021 to 35,359 in May 2022.
Kansas Department of Labor Secretary Amber Shultz said in a separate statement that although there was little change, “a small increase in employment estimates from the household survey caused the unemployment rate decrease to 2.3% in May.”
In addition to the low unemployment rate in Kansas, KDOL is looking ahead at what will likely become a recession come July 1. KDOL says that although there is a correlation between a recession and an increase in the unemployment rate, Kansas is on track to continue a strong unemployment recovery.
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