An incredible 22 million jobs have been lost in the United States during the COVID-19 pandemic . To find out which cities are most vulnerable to rising unemployment, WalletHub has published a new report. <! – ->
" Cities with the greatest increase in unemployment after COVID-19 " were identified where companies and workers were more affected by the pandemic. WalletHub, the personal finance website, compared unemployment rates in 180 cities across the United States. The data compared the unemployment rates in March 2020 with those in March 2019 and January 2020.
10 cities hardest hit by coronavirus unemployment
The investigation found that the ten cities most affected by unemployment during the Coronavirus are:
- Seattle, WA
- Hialeah, FL
- North Las Vegas, NV
- Miami, FL
- Henderson, NV
- Las Vegas, NV
- Aurora, CO
- Denver, CO
- Cleveland, OH
- Colorado Springs, CO
- Reno, NV
- Dover, DE
- Orlando, FL
- Port St. Lucie, FL
- Salt Lake City, UT
- Long Beach, CA
- Santa Clarita, CA
- Los Angeles, CA
- Chicago, IL
- Fort Lauderdale, FL
Unemployment has risen sharply since January 2020
<! – -> In one of the hardest hit cities in Seattle, unemployment changed by 86.92% between March 2020 and March 2019. Between March 2020 and January 2020 the unemployment changes were shocking. Hialeah, for example, saw a 145.91% change in unemployment during this period.
The report notes how many of the jobs lost in the past few weeks have been created in non-essential industries. Companies operating in non-essential industries like tourism, gastronomy and entertainment had to close during the pandemic. Even those who have remained open have had to fire employees and have been hit hard by the economic shock.
Recording after locking will be difficult.
The study confirms how difficult it will be for small businesses in these cities to recover if the barrier is lifted. The results underline the importance of financial support for local companies.
As Jill Gonzalez, WalletHub analyst, commented in a question and answer session:
“Cities can minimize the increase in their unemployment rates by supporting local industries most affected by the COVID-19 pandemic, such as tourism, retail or entertainment. While cities have no control over when these companies can reopen, they could grant tax breaks (similar to the federal government) to motivate companies to keep employees on the payroll. <! – ->
“Some mayors also draw money from reserve funds or distribute money that would have been used for less important purposes to help the workers. Mayors can also use their influence to campaign for Congress to help the struggling local communities, which several major city mayors have done so far, ”continued Gonzalez.
It is important for small businesses to be aware of the support available to them. It is important that small businesses use the incentives available to keep employees on the payroll. With this support, small businesses can better pick up the parts if the shutdown is lifted.
Image: Depositphotos.com <! – ->
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