Why Are Texans Losing Their Jobs? Are You Next?
Is your job safe? Do you feel secure in your position at work? Are you working for a company that is planning massive layoffs in the Lone Star State? If you said yes to any of those questions, you are not alone. According to WalletHub's newest numbers, Texas made the Top 10 list for the most significant increase in unemployment claims in America.
I will admit this openly, I fear this feeling every day, "will I have a job next week?" It seems that numbers have really jumped within the last couple weeks, and it appears more layoffs are on the way. I've often said that if the economy is not rebounding as it should after spending 18 weeks in a recession, get ready for the worst to come.
WalletHub's week-over-week monitor beginning May 29 until today the high inflation that is being reported across the country is threatening the recession's recovery. The unemployment numbers have reportedly risen 12% in Texas alone. As a matter of fact, this is the highest unemployment claim rise since before October 2021.
On the opposite side of those scary numbers going up, there is good news. According to WalletHub, Vermont, Oklahoma, Wyoming, Maryland, and Mississippi all had numbers going the opposite direction. So while the economy does not appear to be bouncing back, some states are actually improving their numbers and putting people back to work.
The way I'm looking at things now with these numbers, my advice is to work hard and keep your options open.
| STATE | CHANGE IN UNEMPLOYMENT CLAIMS (LATEST WEEK VS. PREVIOUS WEEK)* | CHANGE IN UNEMPLOYMENT CLAIMS (LATEST WEEK VS SAME WEEK PRE-PANDEMIC)** | CHANGE IN UNEMPLOYMENT CLAIMS (LATEST WEEK VS SAME WEEK OF 2022)*** | UNEMPLOYMENT CLAIMS PER 100,000 PEOPLE IN THE LABOR FORCE |
| Ohio | 61.17% | 133.45% | 75.40% | 288 |
| Minnesota | 97.48% | 89.48% | 101.85% | 180 |
| Connecticut | -39.71% | 67.98% | 81.30% | 191 |
| Colorado | -17.67% | 59.14% | 9.75% | 80 |
| Texas | -0.91% | 56.17% | 38.22% | 133 |
| Indiana | 10.31% | 54.36% | -2.17% | 95 |
| Idaho | 9.33% | 40.20% | 49.36% | 146 |
| California | 11.87% | 40.16% | 18.23% | 252 |
| Utah | -7.24% | 39.65% | 10.71% | 72 |
| South Carolina | 8.37% | 33.07% | 11.87% | 98 |
