The U.S. unemployment rate rose nationally from 3.5% to 14.7% between February and April 2020 (+11.2% pts). However, that figure dipped to 13.3% in May, which means there are signs of a recovering economy.
This news comes as the Business Cycle Dating Committee of the National Bureau of Economic Research, which determines recessions, said the country officially entered a recession in February. That's after an eceonomic expansion that lasted 128 months, the longest in the history of U.S. business cycles dating back to 1854.
While jobless claims remain high nationwide, some local communities have witnessed far higher spikes in unemployment than others.
According to a SmartAsset study, which compared unemployment rates from February 2020 and April 2020 (released on June 3) for all 389 U.S. metro areas, the Manchester metro area ties for the 41st spot.
Rankings can be found on the places with the highest increase in unemployment nationwide here.
Current Issue - April 2024