AZ Business Magazine | AZBigMedia
The latest jobs report shows the national unemployment rate at 13.3%, which is below the peak of 14.7% during the height of the COVID-19 pandemic. To provide more context at the city level, WalletHub today 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, along with accompanying videos and audio files. Even though COVID-19 cases are surging, the good news is that nine Arizona cities are among the Top 20 Cities Whose Unemployment Rates Are Bouncing Back Most.
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 23 percent higher than reported, and the WalletHub report includes both the official rate and an “adjusted” rate based on this error.