AUSTIN (KXAN) — Texas is ranked as the 44th state quickest to recover from the start of the COVID-19 pandemic, according to a WalletHub report.
The state’s unemployment claims dropped by 48.28% last week compared to the same week last year, WalletHub said. This is despite Texas’ claims being 458.98% higher since this same week in 2019.
Nationwide, there were 684,000 unemployment claims, according to the report. That’s lower than the 6.9 million at the peak of the pandemic.
Three states in particular, Alabama, Georgia and West Virginia, saw higher unemployment claims last week versus the same week last year, WalletHub said.
However, there may be some good news coming this Easter:
“Easter spending will help reduce unemployment, as Easter is typically one of the biggest holidays for spending during the year. As a result, businesses should see an uptick in revenue, which could help them hire more.”Jill Gonzalez, WalletHub analyst
Gonzalez continued by saying that “while the pandemic will affect how much people will spend for Easter, the encouraging news is that 47% fewer people say their spending plans are impacted this year compared to last year.”