Louisiana's Economic COVID Bounce Back: How Do We Rank?

Just look at the stock market and you'll see that since the Coronavirus induced crash from March, the American economy has rebounded rapidly. But, unfortunately, things aren't bouncing back everywhere.

Personal finance website, WalletHub's newest study shows unemployment claims were 87% below the peak during the COVID-19 pandemic. To help simplify what can appear very complex statistics, WalletHub just released updated rankings for the States Whose Weekly Unemployment Claims are Recovering the Quickest...and the Slowest.

To help identify which states are experiencing the quickest recovery, WalletHub compared the 50 states and the District of Columbia across three metrics based on changes in unemployment claims. And for Louisiana, it's not looking so good.

1,289.78% Change in Unemployment Claims (Latest Week vs Last Year)
- 23,390 the week of August 31, 2020 vs 1,683 the week of September 2, 2019
- The slowest recovery in the U.S.
1,310.74% Change in Unemployment Claims (Latest Week vs Start of 2020)
- 23,390 the week of August 31, 2020 vs 1,658 the week of January 1, 2020
- The slowest recovery in the U.S.
1,832.25% Change in Unemployment Claims (Since Start of COVID-19 Crisis vs Last Year)
- 956,949 between the week of March 16, 2020 and the week of August 31, 2020 vs 52,228 between the week of March 18, 2019 and the week of September 2, 2019
- 7th slowest recovery in the U.S.

But, when looking at economic bounce back since March, Louisiana fares a bit better, coming in 45 out of 51. Here are WalletHub's top and lowest five, in terms of overall economic recovery:

Recovered Most Since Start of COVID Crisis:

1) Oregon

2) Connecticut

3) New Jersey

4) Vermont

5) Illinois

Recovered Least Since Start of COVID Crisis:

47) Virginia

48) Oklahoma

49) New Hampshire

50) Florida

51) Georgia