Unemployment Claims In Idaho Is One The Highest In The Country
Uncertainty continues to loom over the country as gas prices continue to increase, high inflation and the threat of a recession loom in the shadows, and Idaho unemployment claims continue to rise. WalletHub states, "The job market has faltered recently, with new unemployment claims increasing by 12% week-over-week on May 29, reaching the highest level since October 20, 2021, across the nation."
They also found that in blue states, unemployment claims are increasing the most (based on the 2020 presidential election). Idaho is one of the states in the top 10, with claims increased by 9.33% compared to the previous week making it the 13th biggest increase in the U.S. Weekly unemployment claims in Idaho were 49.36% higher than in the same week last year, making it the 7th biggest increase in the U.S.
Other states that had higher unemployment claims last week include California, Nevada, Montana, and more. Idaho also falls on the list of states that had unemployment claims last week that were higher than in the same week pre-pandemic (2019), including California, Utah, and 19 other states.
So what can you do to prepare for a potential recession?
WalletHub expert Samantha Schenck who is an Associate Professor in the Department of Economics at Central Connecticut State University, said, "Families should still be focusing on budgeting and building up an emergency fund for when the inevitable downturn comes. This can be hard for families that are feeling the impact of inflation or are living paycheck to paycheck. But putting even small amounts away for a financial emergency can help over the long run."
States With The Biggest Increases in Unemployment Claims:
- North Dakota