With the U.S. having gained 142,000 jobs in August, WalletHub today released updated rankings for its report on Changes in Unemployment Rate by State, along with expert commentary.
In order to take stock of how unemployment rates are changing throughout the U.S., WalletHub compared the 50 states and the District of Columbia based on six key metrics that compare unemployment rate statistics from the latest month for which data is available (August 2024) to key dates in 2024, 2023, 2020 and 2019.
Unemployment Change in New York:
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Overall rank for New York: 37th
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1.88% Change in Unemployment (August 2024 vs July 2024)
- 425,778 unemployed people in August 2024 vs 417,913 in July 2024;
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25th worst change in the U.S.
- 2.04% Change in Unemployment (August 2024 vs August 2023)
- 425,778 unemployed people in August 2024 vs 417,246 in August 2023;
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12th best change in the U.S.
- 425,778 unemployed people in August 2024 vs 1,026,284 in August 2020;
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9th best change in the U.S.
- 425,778 unemployed people in August 2024 vs 377,803 in August 2019;
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21st worst change in the U.S.
- 160,132 continued claims in August 2024 vs 165,008 in July 2024;
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5th worst change in the U.S.
- 12th highest unemployment rate in the U.S.
- -58.51% Change in Unemployment (August 2024 vs August 2020)
- 12.70% Change in Unemployment (August 2024 vs August 2019)
- 3.04% Change in Not Seasonally Adjusted Continued Claims (August 2024 vs July 2024)
- 4.4% Unemployment Rate (August 2024)
Expert Commentary
What job skills do you think will be the most sought-after in the current job market?
“Prospective employees with skills and experience to perform high-demand jobs, such as digital transformation and AI roles, are definitely in the driver's seat. The market is also operating in favor of candidates who are willing to return to the office. However, employers offering flexibility and maintaining a positive reputation are able to attract and retain talent with minimal difficulty. Candidates must differentiate themselves to be considered.”
Kathleen Voss – Associate Professor of Practice, Temple University
“In the workforce today, resilience and specifically change management skills will be essential for workers to navigate uncertainty. Staying current with industry trends includes developing a hybrid of both soft and technical skills. The workforce of our future requires an investment in upskilling and cultivating skills. There should be a focused effort on providing training programs on the value of adaptability, problem-solving, self-awareness, empathy, communication, and creativity. These skills cannot be easily automated and can improve organizational culture. Having technical acumen will continue to be valuable to implement efficiencies.”
Patricia S. Kelly – Senior Instructor, Quinnipiac University
What's in store for the job market in 2024?
“In May 2024, LinkedIn reported that job postings are at the lowest level since 2021. The market is tight. I predict job opportunities will continue to increase in high-demand and emerging fields at steady rates, yet we will see fewer opportunities in sectors and roles negatively impacted by inflation and advances in technology. I believe we will continue to see volatility in quit rates as employers continue to require employees to return to on-site work. Employers are thinking more strategically and longer term before posting job opportunities.”
Kathleen Voss – Associate Professor of Practice, Temple University
“There is a strong demand for skilled workers. HR professionals along with key employees will have a tremendous opportunity to create unique roles based on the adoption of AI and automated processes. Many employers will continue to provide flexibility with remote options for working. Employee development efforts appear to continue to focus on the competencies and skills needed for opportunities in project management, cybersecurity, human resource management, healthcare technology, and supply chain management.”
Patricia S. Kelly – Senior Instructor, Quinnipiac University
What are the most resilient industries and fields currently?
“Most analysts are predicting solid performance in the durable goods and services sectors this year despite volatility in the economy. Automobiles, appliances, and other long-term durables will remain in demand, so manufacturing and durables retailers (Home Depot) should maintain stable employment. Technology and healthcare will also remain solid in terms of steady growth in employment.”
Kathleen Voss – Associate Professor of Practice, Temple University