Unemployment claims per 100,000 people is a handy metric for gauging the health of the job market. Generally speaking, a higher number of claims suggests that more people are unemployed, which may highlight issues with the economy.In this graphic, we’ve visualized the number of weekly initial unemployment claims per 100,000 people in the labor force across the U.S., using data from WalletHub. All figures are for the week ending Feb 26, 2024, with data being released in early March.Across the country, there are 6.1 million Americans unemployed as of end of February, resulting in a national unemployment rate of around 3.9%. Notably, this is the highest figure seen since January 2022.
States With the Largest Increases
For further context, we can examine the change in unemployment claims by state for the period of Jan 1- Feb 26, in 2024 and 2023.States that saw the biggest rise over this period were New York, New Jersey, and Nevada. A top 10 list can be found below.
From a broader perspective, weekly initial claims for unemployment insurance across the U.S. have hovered around the low 200,000s in 2024. This is generally in line with figures seen prior to the COVID-19 pandemic.In the week of April 4, 2020, unemployment claims spiked to 6.137 million due to COVID-related lockdowns and business closures.
Learn More About the U.S Job Market
Before you go, be sure to check out Visualizing the American Workforce as 100 People to gain a unique perspective on the U.S. economy.More By This Author:A Map Of Global Happiness By Country In 2024 The World’s Largest Corporate Holders Of BitcoinThe World’s Top 50 Largest Banks By Consolidated Assets
