NEW MEXICO (KRQE) – A new WalletHub study is highlighting U.S. states and how their unemployment levels have increased as of the last week of February 2023. According to the study, New Mexico is actually doing well, coming in at #34.
WalletHub findings show New Mexico the state’s unemployment rate is nearly 10% more than the same week last year and 92% lower than the same week pre-pandemic. The report also states 68 people out of 100,000 in the labor force made unemployment claims.
New York had the biggest increase in unemployment claims in the country with a jump of 117% in claims compared to only the week before (February 20). The study does say that blue states saw a bigger increase in claims than red states.
To calculate their findings, WalletHub compared the states based on changes in unemployment insurance initial claims for several key weeks. They also looked at the number of claims per number of people in the workforce.