Category: WalletHub

June 2nd, 2020 by newbernpostadmin

With every new headline about a mass shooting, terrorist attack, hate crime or natural disaster, many of us fear for our safety and that of our loved ones. In 2020, though, by far the biggest safety concern on Americans’ minds is the coronavirus pandemic, which has killed around 100,000 Americans and infected nearly 1.7 million as of late-May. To put that in perspective, last year 38,000 people died in car crashes and there were around 15,200 gun-related deaths (non-suicide). Though tragedy can strike in any state, especially during this pandemic, some states are more vulnerable to danger than others.

June is National Safety Month. With the U.S. devastated by the coronavirus pandemic this year, the personal-finance website WalletHub released its report on 2020’s Safest States in America.

In order to determine the most secure states, WalletHub compared the 50 states across 53 key metrics. The data set ranges from the state’s coronavirus support to assaults per capita and the unemployment rate.

Safest States in America Least Safe States in America
1. Maine 41. South Carolina
2. Vermont 42. Georgia
3. Minnesota 43. Alabama
4. Utah 44. Missouri
5. Wyoming 45. Oklahoma
6. Iowa 46. Texas
7. Massachusetts 47. Arkansas
8. New Hampshire 48. Florida
9. Connecticut 49. Louisiana
10. Rhode Island 50. Mississippi

 

Where’s North Carolina in all this? North Carolina, the 10th largest state by population, ranks squarely in the middle at 26th for safety in this study.

Key Stats

  • South Dakota has the fewest murders and non-negligent manslaughters per 100,000 residents, 1.36, which is 8.4 times fewer than in Louisiana, the most at 11.37.
  • New Hampshire has the fewest thefts per 1,000 residents, 12.75, which is 2.8 times fewer than in New Mexico, the most at 35.55.
  • New Jersey has the most law-enforcement employees per 100,000 residents, 473, which is 2.2 times more than in Washington, the fewest at 211.
  • Delaware has the lowest share of high school students who were bullied online, 10.10 percent, which is 2.1 times lower than in Louisiana, the highest at 21.20 percent.

In order to determine the safest states in America, WalletHub compared the 50 states across 53 key safety indicators grouped into five different categories. Our data set ranges from the state’s coronavirus support to assaults per capita and the unemployment rate. Read on for our findings, expert insight from a panel of researchers and a full description of our methodology.

Source: WalletHub

 

Safest States in the U.S.

Overall Rank (1 = Safest) State Total Score ‘Personal & Residential Safety’ Rank ‘Financial Safety’ Rank ‘Road Safety’ Rank ‘Workplace Safety’ Rank ‘Emergency Preparedness’ Rank
1 Maine 66.02 1 20 1 22 1
2 Vermont 65.48 2 7 10 14 9
3 Minnesota 62.42 11 4 3 1 21
4 Utah 61.71 21 13 7 4 6
5 Wyoming 59.21 6 15 16 20 22
6 Iowa 59.21 3 3 4 10 44
7 Massachusetts 58.84 10 1 2 30 10
8 New Hampshire 58.82 7 10 22 43 4
9 Connecticut 58.81 4 17 23 24 16
10 Rhode Island 58.15 8 26 6 39 11
11 Washington 57.53 34 9 20 12 8
12 Oregon 56.99 26 21 18 9 13
13 Hawaii 55.89 22 8 43 21 5
14 New Jersey 53.71 9 23 28 23 24
15 Virginia 53.29 29 14 21 2 31
16 Maryland 52.32 30 22 19 15 23
17 Indiana 52.20 19 33 24 11 29
18 North Dakota 51.83 5 2 5 50 37
19 Wisconsin 51.71 20 19 15 34 18
20 Idaho 51.20 24 16 11 47 17
21 Delaware 50.83 13 37 17 40 14
22 Michigan 50.83 45 28 26 13 15
23 New York 50.40 12 24 8 32 28
24 Kentucky 50.37 15 43 35 16 30
25 Arizona 50.33 42 32 48 7 7
26 North Carolina 49.88 16 25 39 6 43
27 Nevada 49.78 48 40 45 3 3
28 New Mexico 49.64 38 45 49 5 12
29 Alaska 48.52 50 30 37 18 2
30 Nebraska 47.60 14 6 13 38 40
31 California 47.37 46 27 42 17 19
32 West Virginia 46.88 18 34 31 45 20
33 Pennsylvania 46.45 23 31 29 31 27
34 Illinois 45.92 33 41 9 25 34
35 Ohio 45.29 36 46 14 26 26
36 Colorado 44.45 39 5 40 42 25
37 Kansas 44.41 28 18 12 27 47
38 Montana 44.07 31 12 27 41 33
39 Tennessee 43.70 47 38 33 8 36
40 South Dakota 43.33 27 11 25 49 39
41 South Carolina 41.46 44 39 46 19 38
42 Georgia 40.91 25 50 44 28 35
43 Alabama 40.22 32 35 36 33 46
44 Missouri 40.12 37 29 38 29 41
45 Oklahoma 37.45 35 47 32 46 45
46 Texas 36.61 40 36 30 37 48
47 Arkansas 36.14 49 42 41 35 32
48 Florida 34.63 41 44 47 44 42
49 Louisiana 32.53 43 49 34 36 49
50 Mississippi 32.00 17 48 50 48 50

 

 

 

Posted in Public safety, WalletHub

May 28th, 2020 by newbernpostadmin

With 2.1 million more unemployment claims filed this week despite all U.S. states starting to reopen, WalletHub released updated rankings for the States Hit Most by Unemployment Claims, and North Carolina ranked poorly, coming in at 9th.

Since North Carolina is the 10 largest state by population, 9th would indicate it is doing slightly worse than it should for a state its size.

To identify which states’ workforces have been hurt the most by COVID-19, WalletHub compared the 50 states and the District of Columbia based on increases in unemployment claims during the latest week for which we have data (May 18) and overall since the beginning of the coronavirus crisis (March 16). We used this data to rank the most impacted states for both periods. Below, you can see highlights from the report, along with a WalletHub Q&A. To see the states most impacted since the beginning of the COVID-19 pandemic, click here.

Increase in North Carolina Unemployment Claims Due to Coronavirus (1=Worst, 25=Avg.):

  • 1,167.85% Increase in Unemployment Claims (May 2020 vs May 2019)
    • 43,221 the week of May 18, 2020 vs 3,409 the week of May 20, 2019
    • 9th highest increase in the U.S.
  • 1,132.07% Increase in the Number of Unemployment Claims (May 2020 vs January 2020)
    • 43,221 the week of May 18, 2020 vs 3,508 the week of January 1, 2020
    • 5th highest increase in the U.S.
  • 3,243.18% Increase in Unemployment Claims Since Pandemic Started
    • 982,456 between the week of March 16, 2020 and the week of May 18, 2020 vs 30,293 between the week of March 18, 2019 and the week of May 20, 2019
    • 7th highest increase in the U.S.

As every state begins to reopen at least partially after months of keeping non-essential businesses closed, Americans hope to see the massive spike in unemployment start to reverse. More than 40 million Americans have found themselves temporarily or permanently out of a job since the week of March 16, which translates to a staggering 14.5% unemployment. Though the reopening of states will provide opportunities for some people to go back to work, businesses will open in stages rather than all at once, and many may not have the resources to hire as many people as they did previously.

Not all states have experienced the same levels of unemployment due to the pandemic. To identify which states’ workforces have been hurt most by COVID-19, WalletHub compared the 50 states and the District of Columbia based on increases in unemployment claims during the latest week for which we have data (May 18) and overall since the beginning of the coronavirus crisis (March 16). We used this data to rank the most impacted states for both periods. Read on for the results, additional commentary from a panel of experts and a full description of our methodology.

Source: WalletHub

 

States with the Biggest Increases in Unemployment Claims Due to Coronavirus

State Most Affected Last Week  Most Affected Since Start of COVID-19 Crisis
Florida 1 4
Georgia 2 1
Virginia 3 5
Mississippi 4 18
Kentucky 5 3
Oklahoma 6 12
New Hampshire 7 2
North Carolina 8 7
Louisiana 9 6
District of Columbia 10 17
South Dakota 11 9
Indiana 12 8
New York 13 35
Texas 14 34
Maryland 15 23
Delaware 16 27
Alaska 17 49
Tennessee 18 22
Nevada 19 21
New Mexico 20 28
South Carolina 21 10
Alabama 22 20
Arizona 23 44
Washington 24 19
Colorado 25 14
Minnesota 26 13
Wyoming 27 45
North Dakota 28 16
Illinois 29 42
Nebraska 30 26
Hawaii 31 24
Oregon 32 51
Kansas 33 31
California 34 48
Michigan 35 11
Maine 36 15
Massachusetts 37 32
Ohio 38 25
Wisconsin 39 46
Iowa 40 38
Pennsylvania 41 33
Missouri 42 29
Arkansas 43 41
Utah 44 36
West Virginia 45 30
Connecticut 46 50
Montana 47 40
Idaho 48 39
New Jersey 49 43
Rhode Island 50 37
Vermont 51 47

Rank 1 = Most Affected.

Detailed Findings

State Increase in Unemployment Claims (2020 vs 2019)* Increase in Unemployment Claims (May vs January 2020)** Increase in Unemployment Claims (May vs Start of COVID-19 Crisis)***
Florida 2746.18% 3662.04% 3961.00%
Georgia 3821.50% 863.36% 4769.85%
Virginia 2181.58% 1737.86% 3371.78%
Mississippi 1001.72% 1966.89% 2269.54%
Kentucky 1937.07% 938.42% 3969.78%
Oklahoma 1765.68% 991.64% 2629.52%
New Hampshire 1660.86% 910.58% 4062.60%
North Carolina 1167.85% 1132.07% 3243.18%
Louisiana 769.91% 1338.66% 3337.29%
District of Columbia 1033.41% 965.07% 2314.72%
South Dakota 1117.86% 756.78% 3059.38%
Indiana 1279.42% 492.65% 3095.90%
New York 1407.51% 328.56% 1656.26%
Texas 792.41% 935.86% 1681.29%
Maryland 947.26% 734.76% 2074.72%
Delaware 1104.79% 446.63% 1945.54%
Alaska 764.94% 770.23% 1183.93%
Tennessee 774.74% 744.39% 2131.11%
Nevada 745.10% 699.56% 2172.91%
New Mexico 612.61% 819.52% 1944.24%
South Carolina 1151.88% 233.96% 2817.04%
Alabama 899.96% 471.02% 2219.20%
Arizona 550.96% 758.17% 1322.27%
Washington 868.90% 431.52% 2222.54%
Colorado 736.76% 547.10% 2356.18%
Minnesota 962.96% 292.36% 2394.44%
Wyoming 958.99% 247.13% 1302.92%
North Dakota 899.09% 291.99% 2320.88%
Illinois 661.27% 395.45% 1331.63%
Nebraska 576.84% 434.58% 1955.97%
Hawaii 621.78% 375.78% 2050.04%
Oregon 653.60% 309.80% 1107.89%
Kansas 473.81% 475.24% 1772.24%
California 454.78% 478.28% 1188.53%
Michigan 586.83% 337.00% 2708.36%
Maine 764.71% 147.50% 2353.29%
Massachusetts 595.16% 298.77% 1762.38%
Ohio 535.32% 293.74% 2002.09%
Wisconsin 705.58% 120.23% 1246.56%
Iowa 585.43% 218.05% 1580.35%
Pennsylvania 603.79% 154.26% 1681.46%
Missouri 495.79% 246.76% 1938.07%
Arkansas 425.57% 306.21% 1348.70%
Utah 418.04% 259.35% 1639.78%
West Virginia 470.30% 204.48% 1911.97%
Connecticut 516.05% 111.21% 1110.10%
Montana 364.31% 132.60% 1431.98%
Idaho 420.61% 51.23% 1570.47%
New Jersey 319.90% 117.23% 1331.32%
Rhode Island 326.90% 48.07% 1626.70%
Vermont 244.19% 117.65% 1215.13%

*Refers to the increase in the number of unemployment insurance initial claims in the week of May 18, 2020 compared to the week of May 20, 2019.
**Refers to the increase in the number of unemployment insurance initial claims in the week of May 18, 2020 compared to the week of January 1, 2020.
***Refers to the increase in the Number of Unemployment Insurance Initial Claims between the weeks of March 16, 2020 to May 18, 2020 compared to the weeks of March 18, 2019 to May 20, 2019.

 

 

Red vs. Blue States

 

 

 

Posted in Economy, Economy and Employment, Health, State news, WalletHub

May 21st, 2020 by newbernpostadmin

WalletHub | North Carolina has the 10th biggest increase in unemployment claims due to COVID-19

With nearly 39 million Americans now jobless as a result of the COVID-19 pandemic but many people actually making more money while unemployed, WalletHub released updated rankings for the States Hit Most by Unemployment Claims.

To identify which states’ workforces have been hurt the most by COVID-19, WalletHub compared the 50 states and the District of Columbia based on increases in unemployment claims. We used this data to rank the most impacted states in both the latest week for which we have data (May 11) and overall since the beginning of the coronavirus crisis (March 16). Below, you can see highlights from the report, along with a WalletHub Q&A.

Increase in North Carolina Unemployment Claims Due to Coronavirus (1=Worst, 25=Avg.):

  • 1,257.77% Increase in Unemployment Claims (May 2020 vs May 2019)
    • 45,974 the week of May 11, 2020 vs 3,386 the week of May 13, 2019
    • 12th highest increase in the U.S.
  • 1,210.55% Increase in the Number of Unemployment Claims (May 2020 vs January 2020)
    • 45,974 the week of May 11, 2020 vs 3,508 the week of January 1, 2020
    • 6th highest increase in the U.S.
  • 3,490.17% Increase in Unemployment Claims Since Pandemic Started
    • 938,296 between the week of March 16, 2020 and the week of May 11, 2020 vs 26,884 between the week of March 18, 2019 and the week of May 13, 2019
    • 7th highest increase in the U.S.

Source: WalletHub

 

States with the Biggest Increases in Unemployment Claims Due to Coronavirus

State Most Affected Last Week  Most Affected Since Start of COVID-19 Crisis
Florida 1 4
Georgia 2 1
Washington 3 20
South Dakota 4 8
New Hampshire 5 2
Virginia 6 6
Mississippi 7 15
Kentucky 8 3
Louisiana 9 5
North Carolina 10 7
New York 11 39
Indiana 12 9
Oklahoma 13 12
Maryland 14 23
Tennessee 15 22
District of Columbia 16 17
Texas 17 33
New Mexico 18 28
South Carolina 19 11
Delaware 20 30
Nevada 21 21
Colorado 22 14
Alaska 23 49
Arizona 24 44
Minnesota 25 13
Illinois 26 43
Alabama 27 19
Hawaii 28 24
Nebraska 29 27
Kansas 30 31
North Dakota 31 16
Connecticut 32 50
Michigan 33 10
California 34 48
Wyoming 35 45
Massachusetts 36 32
Wisconsin 37 47
Missouri 38 26
Utah 39 35
Arkansas 40 41
Oregon 41 51
Idaho 42 38
Iowa 43 37
West Virginia 44 29
Ohio 45 25
New Jersey 46 42
Pennsylvania 47 34
Montana 48 40
Rhode Island 49 36
Vermont 50 46
Maine 51 18

Rank 1 = Most Affected.

Detailed Findings

State Increase in Unemployment Claims (2020 vs 2019)* Increase in Unemployment Claims (May vs January 2020)** Increase in Unemployment Claims (May vs Start of COVID-19 Crisis)***
Florida 3424.19% 4749.00% 4083.76%
Georgia 4019.18% 934.87% 4852.55%
Washington 2534.28% 1348.80% 2367.45%
South Dakota 2220.73% 856.28% 3430.36%
New Hampshire 1893.54% 1107.68% 4254.91%
Virginia 1631.77% 1336.26% 3513.00%
Mississippi 1144.59% 1911.63% 2504.78%
Kentucky 1970.25% 808.91% 4241.99%
Louisiana 1156.23% 1639.63% 3742.17%
North Carolina 1257.77% 1210.55% 3490.17%
New York 1807.71% 405.11% 1672.39%
Indiana 1408.76% 583.60% 3259.09%
Oklahoma 1280.35% 711.42% 2651.14%
Maryland 1164.90% 761.48% 2207.13%
Tennessee 1026.94% 830.35% 2300.30%
District of Columbia 915.80% 955.93% 2454.10%
Texas 873.28% 986.61% 1778.60%
New Mexico 913.78% 894.74% 2138.23%
South Carolina 1371.56% 294.14% 2992.20%
Delaware 1173.30% 521.37% 2004.29%
Nevada 929.83% 801.10% 2331.89%
Colorado 1010.58% 638.71% 2532.98%
Alaska 891.09% 727.42% 1229.36%
Arizona 654.56% 931.13% 1389.34%
Minnesota 1062.51% 332.46% 2542.16%
Illinois 886.40% 518.18% 1390.16%
Alabama 888.63% 413.25% 2375.01%
Hawaii 788.73% 504.82% 2201.90%
Nebraska 800.15% 438.94% 2151.82%
Kansas 740.16% 483.41% 1965.56%
North Dakota 910.33% 262.56% 2499.96%
Connecticut 907.47% 231.29% 1153.63%
Michigan 828.40% 312.36% 3065.47%
California 557.57% 570.25% 1257.60%
Wyoming 823.19% 188.67% 1307.61%
Massachusetts 707.76% 304.99% 1888.10%
Wisconsin 792.14% 143.61% 1282.73%
Missouri 687.80% 248.26% 2152.15%
Utah 598.78% 313.37% 1771.91%
Arkansas 528.29% 313.90% 1454.34%
Oregon 583.89% 231.86% 1142.47%
Idaho 656.22% 85.15% 1677.23%
Iowa 565.65% 184.34% 1689.04%
West Virginia 514.30% 210.29% 2065.72%
Ohio 368.71% 333.07% 2163.24%
New Jersey 485.81% 169.64% 1424.40%
Pennsylvania 437.16% 134.74% 1775.53%
Montana 442.31% 117.62% 1542.21%
Rhode Island 440.25% 95.33% 1711.65%
Vermont 297.35% 208.53% 1287.12%
Maine 60.23% -49.13% 2409.93%

*Refers to the increase in the number of unemployment insurance initial claims in the week of May 11, 2020 compared to the week of May 13, 2019.
**Refers to the increase in the number of unemployment insurance initial claims in the week of May 11, 2020 compared to the week of January 1, 2020.
***Refers to the increase in the Number of Unemployment Insurance Initial Claims between the weeks of March 16, 2020 to May 11, 2020 compared to the weeks of March 18, 2019 to May 13, 2019.

 

Coronavirus Job Losses vs. Great Recession


Sources: Bureau of Labor Statistics, St. Louis Federal Reserve.

 

Red vs. Blue States

 

 

Posted in Economy, Economy and Employment, WalletHub

May 14th, 2020 by newbernpostadmin

North Carolina has the ninth largest increase in unemployment due to COVID-19, according to a WalletHub study released Thursday morning.

With more than half of the U.S. starting to reopen at least partially but almost 36.5 million Americans having lost their jobs during the pandemic, WalletHub released updated rankings for the States with the Biggest Increases in Unemployment Due to the Coronavirus, along with accompanying videos.

To identify which states’ workforces have been hurt most by COVID-19, WalletHub compared the 50 states and the District of Columbia based on increases in unemployment claims. This data was used to rank the most impacted states in both the latest week for which we have data (May 4) and overall since the beginning of the coronavirus crisis (March 16).

 

Source: WalletHub

Increase in North Carolina Unemployment Due to Coronavirus (1=Worst, 25=Avg.):

  • 1,650.02% Increase in Unemployment Claims (May 2020 vs May 2019)
    • 56,193 the week of May 4, 2020 vs 3,211 the week of May 6, 2019
    • 13th highest increase in the U.S.
  • 1,501.85% Increase in the Number of Unemployment Claims (May 2020 vs January 2020)
    • 56,193 the week of May 4, 2020 vs 3,508 the week of January 1, 2020
    • 6th highest increase in the U.S.
  • 3,792.50% Increase in Unemployment Claims Since Pandemic Started
    • 891,161 between the week of March 16, 2020 and the week of May 4, 2020 vs 23,498 between the week of March 18, 2019 and the week of May 6, 2019
    • 6th highest increase in the U.S.
  • States with the Biggest Increases in Unemployment Due to Coronavirus
    State Most Affected Last Week  Most Affected Since Start of COVID-19 Crisis
    Connecticut 1 30
    Florida 2 4
    Louisiana 3 5
    Georgia 4 1
    Kentucky 5 2
    Mississippi 6 12
    Virginia 7 7
    South Dakota 8 8
    North Carolina 9 6
    New Hampshire 10 3
    Washington 11 24
    Oklahoma 12 13
    Maryland 13 26
    District of Columbia 14 17
    New Mexico 15 28
    Texas 16 36
    Nevada 17 21
    Tennessee 18 22
    Colorado 19 16
    Maine 20 18
    Arizona 21 44
    Alaska 22 50
    Indiana 23 9
    Minnesota 24 14
    Hawaii 25 23
    South Carolina 26 11
    New York 27 40
    Kansas 28 31
    Alabama 29 19
    Illinois 30 45
    Nebraska 31 27
    Delaware 32 32
    Massachusetts 33 33
    Oregon 34 51
    Ohio 35 20
    California 36 47
    New Jersey 37 43
    Wyoming 38 49
    Utah 39 35
    Arkansas 40 42
    Missouri 41 25
    Michigan 42 10
    West Virginia 43 29
    Vermont 44 46
    Iowa 45 37
    Wisconsin 46 48
    North Dakota 47 15
    Rhode Island 48 38
    Pennsylvania 49 34
    Idaho 50 39
    Montana 51 41

    Rank 1 = Most Affected.

    Detailed Findings

    State Increase in Unemployment Claims (2020 vs 2019)* Increase in Unemployment Claims (May vs January 2020)** Increase in Unemployment Claims (May vs Start of COVID-19 Crisis)***
    Connecticut 13792.09% 3703.87% 2123.26%
    Florida 3366.18% 4705.22% 4155.56%
    Louisiana 1885.60% 2328.71% 4137.11%
    Georgia 4659.21% 1314.93% 4933.15%
    Kentucky 3941.49% 1234.67% 4541.87%
    Mississippi 1592.14% 1836.33% 2767.18%
    Virginia 2052.20% 1574.91% 3782.34%
    South Dakota 2643.85% 1189.20% 3570.16%
    North Carolina 1650.02% 1501.85% 3792.50%
    New Hampshire 2231.94% 1275.51% 4473.62%
    Washington 2168.40% 1059.32% 2346.98%
    Oklahoma 1796.70% 1014.31% 2756.55%
    Maryland 1677.51% 1017.30% 2322.39%
    District of Columbia 1351.01% 1094.59% 2674.47%
    New Mexico 1343.72% 1007.63% 2297.15%
    Texas 993.23% 1045.56% 1886.77%
    Nevada 1049.93% 962.06% 2492.85%
    Tennessee 1110.57% 850.32% 2454.51%
    Colorado 1174.39% 825.26% 2690.12%
    Maine 2083.41% 509.20% 2636.42%
    Arizona 645.66% 915.17% 1462.29%
    Alaska 985.21% 752.91% 1265.56%
    Indiana 1397.85% 592.17% 3454.02%
    Minnesota 1392.87% 454.33% 2714.32%
    Hawaii 903.01% 575.45% 2377.05%
    South Carolina 1564.77% 335.19% 3183.53%
    New York 1496.49% 346.81% 1650.19%
    Kansas 749.81% 550.72% 2111.58%
    Alabama 978.58% 442.56% 2557.20%
    Illinois 726.09% 519.69% 1434.88%
    Nebraska 831.40% 483.08% 2315.69%
    Delaware 795.41% 479.20% 2072.60%
    Massachusetts 993.36% 369.85% 2011.87%
    Oregon 852.21% 372.70% 1184.24%
    Ohio 775.59% 369.82% 2522.22%
    California 440.23% 482.86% 1329.04%
    New Jersey 795.27% 348.19% 1508.13%
    Wyoming 913.58% 305.74% 1314.39%
    Utah 673.02% 370.03% 1891.95%
    Arkansas 638.17% 381.99% 1555.80%
    Missouri 869.81% 287.20% 2339.07%
    Michigan 845.73% 259.19% 3351.88%
    West Virginia 682.06% 273.53% 2242.15%
    Vermont 546.31% 312.50% 1388.35%
    Iowa 659.30% 264.91% 1816.35%
    Wisconsin 812.10% 200.16% 1317.19%
    North Dakota 517.82% 285.77% 2710.12%
    Rhode Island 627.50% 169.68% 1794.96%
    Pennsylvania 590.84% 176.79% 1937.73%
    Idaho 648.78% 86.37% 1763.28%
    Montana 478.66% 121.41% 1641.48%

    *Refers to the increase in the number of unemployment insurance initial claims in the week of May 4, 2020 compared to the week of May 6, 2019.
    **Refers to the increase in the number of unemployment insurance initial claims in the week of May 4, 2020 compared to the week of January 1, 2020.
    ***Refers to the increase in the Number of Unemployment Insurance Initial Claims between the weeks of March 16, 2020 to May 4, 2020 compared to the weeks of March 18, 2019 to May 6, 2019.

Posted in WalletHub

April 30th, 2020 by newbernpostadmin

The U.S. unemployment rate is still on an upward trend, with roughly 30.3 million Americans now having lost their jobs since the start of the coronavirus pandemic, despite the fact that some states have already begun to selectively reopen businesses.

WalletHub released updated rankings for the States with the Biggest Increases in Unemployment Due to the Coronavirus as a follow-up to our report on the Cities with the Biggest Growth in Unemployment Due to COVID-19, along with accompanying videos.

To identify which states’ workforces have been hurt most by COVID-19, WalletHub compared the 50 states and the District of Columbia based on increases in unemployment claims. We used this data to rank the most impacted states in both the latest week for which we have data (April 20) and overall since the beginning of the coronavirus crisis (March 16). Below, you can see highlights from the report, along with a WalletHub Q&A. To see the states most impacted since the beginning of the COVID-19 pandemic, click here.

Increase in North Carolina Unemployment Due to Coronavirus (1=Worst, 25=Avg.):

  • 3,330.91% Increase in Unemployment Claims (April 2020 vs April 2019)
    • 97,232 the week of April 20, 2020 vs 2,834 the week of April 22, 2019
    • 6th highest increase in the U.S.
  • 2,671.72% Increase in the Number of Unemployment Claims (April 2020 vs January 2020)
    • 97,232 the week of April 20, 2020 vs 3,508 the week of January 1, 2020
    • 4th highest increase in the U.S.
  • 4,332.19% Increase in Unemployment Claims Since Pandemic Started
    • 747,303 between the week of March 16, 2020 and the week of April 20, 2020 vs 17,250 between the week of March 18, 2019 and the week of April 22, 2019
    • 6th highest increase in the U.S.

States with the Biggest Increases in Unemployment Due to COVID-19

Adam McCann, Financial Writer  •  Apr 30, 2020

Source: WalletHub

 

States with the Biggest Increases in Unemployment Due to Coronavirus

State Most Affected Last Week  Most Affected Since Start of COVID-19 Crisis
Florida 1 5
Georgia 2 1
Kentucky 3 4
Louisiana 4 3
North Carolina 5 6
South Dakota 6 9
Virginia 7 7
West Virginia 8 26
Mississippi 9 13
Alabama 10 17
Washington 11 29
South Carolina 12 12
Texas 13 36
Indiana 14 10
Nevada 15 19
District of Columbia 16 18
Kansas 17 22
New Hampshire 18 2
Oklahoma 19 28
New Mexico 20 27
Colorado 21 14
Tennessee 22 21
North Dakota 23 11
Missouri 24 24
Hawaii 25 20
Minnesota 26 15
Ohio 27 16
Arizona 28 43
Nebraska 29 23
Michigan 30 8
Alaska 31 49
Maryland 32 31
Massachusetts 33 34
Oregon 34 50
Iowa 35 33
Utah 36 35
Arkansas 37 41
Rhode Island 38 40
Illinois 39 42
New York 40 38
California 41 45
Pennsylvania 42 32
Maine 43 25
Delaware 44 30
Wyoming 45 48
Wisconsin 46 47
Vermont 47 46
Idaho 48 37
Montana 49 39
Connecticut 50 51
New Jersey 51 44

Rank 1 = Most Affected.

Detailed Findings

State Increase in Unemployment Claims (2020 vs 2019)* Increase in Unemployment Claims (April vs January 2020)** Increase in Unemployment Claims (April vs Start of COVID-19 Crisis)***
Florida 7229.92% 9264.77% 4521.47%
Georgia 5841.62% 1452.27% 4999.06%
Kentucky 5192.77% 1655.05% 4650.00%
Louisiana 3159.46% 3890.77% 4862.71%
North Carolina 3330.91% 2671.72% 4332.19%
South Dakota 4176.98% 1254.02% 3974.44%
Virginia 3435.96% 2222.55% 4322.42%
West Virginia 3073.39% 1791.05% 2603.62%
Mississippi 2012.14% 2942.70% 3156.01%
Alabama 3242.19% 1242.75% 2991.34%
Washington 2632.09% 1354.08% 2436.92%
South Carolina 2974.99% 772.16% 3541.21%
Texas 2003.60% 1955.46% 2015.72%
Indiana 2508.95% 1194.47% 3949.32%
Nevada 1879.04% 1889.53% 2914.57%
District of Columbia 1975.83% 1596.05% 2984.38%
Kansas 2107.24% 1289.50% 2746.65%
New Hampshire 1562.46% 1979.28% 4901.75%
Oklahoma 2018.26% 1346.72% 2451.96%
New Mexico 1812.41% 1616.15% 2488.17%
Colorado 1872.60% 1478.24% 3103.66%
Tennessee 1979.39% 1319.97% 2763.90%
North Dakota 2135.14% 736.84% 3685.88%
Missouri 2086.19% 601.14% 2697.01%
Hawaii 1675.12% 1139.18% 2785.60%
Minnesota 1908.29% 634.42% 3073.55%
Ohio 1503.82% 743.57% 3005.48%
Arizona 882.43% 1563.41% 1653.64%
Nebraska 1549.30% 645.86% 2739.34%
Michigan 1633.36% 515.67% 4014.01%
Alaska 1196.29% 1040.37% 1339.68%
Maryland 1340.40% 815.90% 2355.88%
Massachusetts 1422.70% 647.19% 2217.66%
Oregon 1326.63% 595.89% 1155.29%
Iowa 1343.52% 528.59% 2249.60%
Utah 1075.94% 679.31% 2196.53%
Arkansas 1152.43% 550.04% 1780.88%
Rhode Island 1075.13% 566.23% 1928.42%
Illinois 1011.42% 589.74% 1663.86%
New York 1078.21% 388.14% 1986.11%
California 713.76% 793.36% 1542.79%
Pennsylvania 1010.96% 380.92% 2337.93%
Maine 938.61% 349.67% 2658.71%
Delaware 583.17% 786.17% 2382.62%
Wyoming 909.09% 335.95% 1392.16%
Wisconsin 920.45% 288.28% 1429.89%
Vermont 649.77% 631.03% 1508.66%
Idaho 954.59% 179.61% 2000.56%
Montana 673.25% 325.66% 1941.09%
Connecticut 481.13% 320.75% 1115.12%
New Jersey 415.44% 363.41% 1639.84%

*Refers to the increase in the number of unemployment insurance initial claims in the week of April 20, 2020 compared to the week of April 22, 2019.
**Refers to the increase in the number of unemployment insurance initial claims in the week of April 20, 2020 compared to the week of January 1, 2020.
***Refers to the increase in the number of unemployment insurance initial claims between the weeks of March 16, 2020 to April 20, 2020 compared to the weeks of March 18, 2019 to April 22, 2019.

Coronavirus Job Losses vs. Great Recession


Sources: Bureau of Labor Statistics, St. Louis Federal Reserve.

 

Red vs. Blue States

Posted in Economy, Economy and Employment, Health, WalletHub

April 29th, 2020 by newbernpostadmin

The coronavirus pandemic has been one of the most disastrous events for the economy ever, already wiping out over 22 million jobs. In response to these record levels of unemployment, the government has issued an unprecedented stimulus package: $2.2 trillion.

But despite getting the biggest stimulus ever, Americans are still left questioning whether the government has done enough. It comes as no surprise that 84 percent of Americans want another wave of stimulus checks, according to a recent nationally representative WalletHub survey.

WalletHub’s survey aimed to determine how Americans feel about government aid during the coronavirus crisis, particularly the stimulus package. The survey asked a range of questions on topics including who should get stimulus money, how smoothly the stimulus rollout has gone and whether the actions the government has taken are good enough. Below are additional highlights from WalletHub’s survey, along with a complete description of our methodology.

Key Stats

  • Many people are at risk of going broke: Nearly 160 million Americans are less than three months away from running out of money.
  • Stimulus checks feed vices: Almost 24 million Americans will buy drugs, alcohol or tobacco with their stimulus money.
  • Americans want unemployment insurance to match wages: Around 56 percent of Americans don’t think people’s unemployment income should be more than their previous income.
  • People are generous during the pandemic: A third of Americans say they will donate part of their stimulus money to coronavirus relief.
  • The young want checks based on financial impact: Millennials are 25 percent more likely than baby boomers to think that stimulus checks should only be given to people experiencing income loss.
  • Americans think non-impacted businesses shouldn’t get aid: 70 percent of Americans believe that government help should only be given to businesses with a revenue loss.


Survey Methodology

This report reflects the results of a nationally representative online survey of over 350 respondents.

After we collected all responses, we normalized the data by age, gender and income so the sample would reflect U.S. demographics.

Full Details Overall

Who needs coronavirus relief money the most?
Small businesses 50%
Consumers 47%
Big businesses 3%
Should anyone receive unemployment insurance greater than their income before the pandemic?
No 56%
Yes 44%
What is the most effective way to help Americans financially right now?
Send stimulus checks 65%
Cancel mortgage/rent 35%
Should there be another round of stimulus checks after this first wave?
Yes 84%
No 16%
How would or will you use your stimulus check?
Mortgage / Rent 43%
Save it 26%
Food 26%
Non-essentials (entertainment, etc.) 4%
Will you buy tobacco, alcohol and/or drugs with your stimulus check?
No 91%
Yes 9%
Who should get a stimulus check?
Everyone 62%
Only people who got laid off or furloughed 14%
Anyone with a pay cut of 50%+ 13%
Anyone with a pay cut of 20%+ 9%
Anyone with a pay cut of 10%+ 2%
Which businesses should get government assistance?
Businesses that have lost 50%+ of their revenue 44%
All businesses 30%
Businesses that have lost 20%+ of their revenue 21%
Businesses that have lost 10%+ of their revenue 5%
Do you plan to donate any of your coronavirus relief money to charity?
No 67%
Yes 33%
How close are you to running out of money?
1-3 months 35%
Less than 1 month 29%
More than 6 months 22%
4-6 months 14%

Note: Percentages may not total 100% due to rounding.

Posted in Health, WalletHub

April 28th, 2020 by newbernpostadmin

With 89 percent of adults hospitalized with COVID-19 having some sort of pre-existing condition, the personal-finance website WalletHub released its report on the States Offering the Most Coronavirus Support, and North Carolina ranked last in the nation.

To identify which states offer the most support during the COVID-19 pandemic, WalletHub compared the 50 states and the District of Columbia across 17 key metrics. Our data set ranges from whether the state will offer free vaccinations once a vaccine exists to the share of households in poverty that receive social assistance. Below, you can see highlights from the report, along with a WalletHub Q&A.

Coronavirus Support in North Carolina (1=Most, 25=Avg.):

  • 29th – Coronavirus Relief Fund per Capita
  • 37th – Adoption of Telehealth Services
  • 23rd – Share of Households in Poverty Receiving Social Assistance
  • 32nd – Share of Sheltered Homeless Population
  • 51st – Unemployment Insurance Recipiency Rate
  • 44th – Ratio of Average Weekly Wage Covered by Unemployment Benefit

 

Source: WalletHub

 

The coronavirus might be twice as contagious as experts initially thought, and the risk of serious symptoms has proven to be more pronounced in some populations than others. For example, 89 percent of adults hospitalized for COVID-19 have a pre-existing condition, and nearly 75 percent are over age 50. However, it’s not just the elderly, immunocompromised and other physically vulnerable populations who are at risk during the coronavirus pandemic. In addition to its physical toll, coronavirus is putting significant strain on the finances of American households, which could spell big trouble for people who were already under pressure financially. People with low incomes are less equipped to weather the economic downturn caused by coronavirus, and some states have bigger problems on the horizon than others.

In order to determine the states with the best support systems to protect at-risk populations from COVID-19, WalletHub compared the 50 states and the District of Columbia across 17 key metrics. Our data set includes factors like whether the state will offer a free coronavirus vaccine once one exists and whether it has adopted long-distance healthcare technology. It also includes metrics such as the coronavirus relief fund per capita and the share of households in poverty receiving social assistance. Read on for the state ranking, additional insight from a panel of experts and a complete description of our methodology.

States Offering the Most Support During the COVID-19 Pandemic

Overall Rank State Total Score ‘Coronavirus Relief & Medical Services’ Rank ‘Food and Housing Assistance’ Rank ‘Unemployment Support’ Rank
1 Massachusetts 69.94 1 2 3
2 District of Columbia 59.36 2 1 43
3 Rhode Island 55.99 5 11 16
4 Maine 54.68 3 19 17
5 North Dakota 52.02 14 7 5
6 New Mexico 50.23 7 14 23
7 Vermont 50.22 17 3 7
8 Colorado 49.96 4 44 24
9 Kentucky 49.48 8 21 21
10 Minnesota 48.09 12 39 4
11 Maryland 46.33 6 33 32
12 New York 45.65 9 12 35
13 Washington 45.30 10 45 12
14 Hawaii 41.81 16 50 6
15 Oregon 41.67 18 37 11
16 Wyoming 41.15 21 26 13
17 Connecticut 41.07 22 13 10
18 Nevada 40.14 15 46 20
19 New Jersey 39.54 27 31 2
20 Louisiana 38.82 11 8 51
21 Michigan 37.67 26 5 28
22 Delaware 37.53 19 15 36
23 Montana 37.04 35 23 9
24 Oklahoma 36.68 23 36 14
25 California 35.48 13 51 31
26 West Virginia 35.47 25 10 34
27 Iowa 35.10 44 25 1
28 Utah 34.96 29 28 19
29 Pennsylvania 34.73 42 18 8
30 Alaska 33.23 20 16 45
31 Illinois 32.84 30 27 29
32 South Dakota 32.66 33 17 25
33 Arkansas 32.03 24 30 33
34 Nebraska 32.01 34 20 30
35 Ohio 30.53 46 6 27
36 Missouri 30.52 38 4 37
37 New Hampshire 30.51 28 9 44
38 Idaho 29.73 37 48 15
39 Kansas 29.64 40 32 22
40 Alabama 25.61 39 22 42
41 Wisconsin 25.00 50 24 25
42 Texas 24.75 51 42 18
43 Tennessee 24.09 32 35 46
44 Florida 22.47 31 47 49
45 Indiana 22.42 43 40 38
46 Virginia 22.40 41 41 40
47 South Carolina 20.28 48 38 39
48 Georgia 20.28 45 43 41
49 Arizona 19.66 36 49 50
50 Mississippi 19.19 47 29 48
51 North Carolina 17.68 49 34 47

Posted in Health, State news, WalletHub

March 25th, 2020 by newbernpostadmin

Adam McCann, Financial Writer | WalletHubBuying a home represents an important milestone for most consumers. But for those who dive in to the deep end of real estate without a financial safety net, the decision could lead to buyer’s remorse in the long run.

Mortgage rates hit an all-time low recently due to the negative effect of the coronavirus pandemic on the U.S. economy. However, while the 15-year fixed-rate average and five-year adjustable rate average have continued to drop, the 30-year fixed-rate average has begun to rise again. In the wake of overall lower rates, many homeowners have looked to refinance, and many other Americans are wondering if now is a good time to buy.

As with any major financial decision, it’s wise to improve one’s credit score before applying for a mortgage in order to qualify for the best possible rates. Using a Mortgage Calculator can also help to determine an affordable monthly payment and realistic payoff timeline, whether borrowing for the first time or refinancing an existing loan. Without a good grasp of how to pay off mortgage debt, consumers might find that debt unsustainable.

In this report, WalletHub determined which cities are home to the most overleveraged mortgage debtors by comparing the median mortgage balances against the median income and median home value in more than 2,500 cities. Read on for our findings, expert homebuying advice and a full description of our methodology.

How did cities in Eastern North Carolina do? Here’s the drill-down:

Cities with the Highest Mortgage Debts

Percentile Rank* City WalletHub Home Overleverage Score** Median Mortgage Debt Median House Value Median Income Mortgage Debt-to-Income Ratio Mortgage Debt-to-House Value Ratio
67 New Bern 31.36 $130,485 $164,100 $35,494 368% 80%
49 Greenville 28.01 $124,914 $157,900 $39,947 313% 79%
89 Jacksonville 37.79 $139,128 $156,500 $32,027 434% 89%
Most Overleveraged Cities Least Overleveraged Cities
Willis, TX Dublin, OH/ Powell, OH
Bell Gardens, CA Cheektowaga, NY
Ewa Beach, HI Chagrin Falls, OH
Dumfries, VA Hingham, MA
Blacklick Estates, OH Plymouth, MI
McKees Rocks, PA Greenwood, MS
York, PA Gary, IN
Canton, MS St. Albans, WV
Kahului, HI Gahanna, OH
Santa Maria, CA Princeton, NJ
Santa Ana, CA Chevy Chase, MD
Watsonville, CA Yorktown, VA
Beverly Hills, CA West Mifflin, PA
Imperial Beach, CA Pascagoula, MS
Upper Marlboro, MD Scarsdale, NY
Cumming, GA Naples, FL
Bell, CA Bloomfield Hills, MI
Harrisburg, PA Homosassa, FL
Richmond, TX Decatur, GA
Hollister, CA Bronxville, NY

Key Stats

  • West Mifflin, Pennsylvania, has the lowest mortgage debt-to-income ratio, 140 percent, which is 7.4 times lower than in Bell Gardens, California, the city with the highest at 1,041 percent.
  • Bronxville, New York, has the lowest mortgage debt-to-house value ratio, 19 percent, which is 9.6 times lower than in McKees Rocks, Pennsylvania, the city with the highest at 182 percent.
  • East St. Louis, Illinois, has the lowest median mortgage debt, $42,809, which is 18.7 times lower than in Beverly Hills, California, the city with the highest at $802,098.
  • Scarsdale, New York, has the highest median income, $211,139, which is 9.6 times higher than in Bastrop, Louisiana, the city with the lowest at $22,021.

Posted in Economy, WalletHub

March 24th, 2020 by newbernpostadmin

Adam McCann, Financial Writer, WalletHub |

North Carolina, with 297 cases as of the morning of March 24, 2020, ranking it 19th among states with the most COVID-19 cases, ranked 40th in a comparison of states taking aggressive action against the virus.

According to the World Health Organization, the primary way that coronavirus (COVID-19) spreads is through close interaction with other people. If people come into contact with droplets exhaled or coughed out by infected people, they are at risk of getting the virus. In response, the U.S. Centers for Disease Control and Prevention has recommended that Americans use “social distancing.” This includes canceling large events and staying at least two meters away from others when possible, among other measures to limit close contact.

Many states have taken the CDC’s advice and have legally enforced social distancing, to the point of banning even small gatherings, closing all non-essential businesses, shutting down schools and even ordering residents to shelter in place in some cases. Other states have focused on laws ensuring greater funding for combating the pandemic or guaranteeing that treatment is covered by insurance. Some states have even taken hygiene into their own hands – for example, New York is manufacturing its own hand sanitizer to deal with shortages.

In order to determine the states that are most and least aggressive in their efforts to limit exposure to coronavirus, WalletHub compared the 50 states and the District of Columbia across 46 unique metrics. Our data set ranges from tested cases of COVID-19 per capita and state legislation on the pandemic to the uninsured population and share of the workforce in affected industries. Read on for the ranking and a complete description of our methodology.

Alongside this report, WalletHub also released a Coronavirus and Money Survey that examined how the virus has affected Americans’ daily life and spending habits.

Source: WalletHub

State with the Most Aggressive Measures in Limiting Virus Exposure

Overall Rank State ‘Prevention & Containment’ Rank ‘Risk Factors & Infrastructure’ Rank ‘Economic Impact’ Rank Delta in Overall Rank vs. March 16
1 California 1 38 23 22
2 Rhode Island 2 17 44 -1
3 Maryland 9 21 3 0
4 New Hampshire 4 4 33 7
5 New Jersey 5 32 9 2
6 Connecticut 8 7 19 -4
7 New York 6 44 25 -3
8 Maine 11 31 15 25
9 Colorado 13 3 45 26
10 Louisiana 7 41 43 12
11 Hawaii 3 45 49 34
12 Delaware 16 10 20 6
13 North Dakota 21 1 11 7
14 Alaska 10 19 47 5
15 Vermont 15 13 36 -6
16 Wisconsin 17 11 37 -3
17 Kentucky 12 40 39 23
18 Illinois 14 12 48 -1
19 Utah 23 5 12 -4
20 Minnesota 32 2 8 -12
21 Washington 22 14 13 -16
22 District of Columbia 19 18 21 -12
23 Michigan 27 28 6 4
24 Ohio 18 26 35 -12
25 Massachusetts 34 7 5 -19
26 Iowa 40 6 1 8
27 Virginia 31 15 14 -3
28 South Carolina 25 36 28 13
29 Pennsylvania 20 24 40 -8
30 Indiana 29 20 32 12
31 West Virginia 30 42 18 1
32 Wyoming 26 25 42 19
33 Alabama 36 47 2 -2
34 New Mexico 24 50 29 -20
35 Kansas 38 16 27 9
36 Florida 28 37 46 1
37 Oregon 35 39 38 -9
38 Arizona 33 48 31 -9
39 Texas 37 30 26 10
40 North Carolina 41 43 17 -10
41 Georgia 49 27 4 -2
42 Missouri 47 29 7 4
43 South Dakota 45 23 24 -27
44 Nebraska 48 9 30 -8
45 Montana 39 34 50 -19
46 Oklahoma 43 46 34 1
47 Arkansas 44 49 16 -22
48 Idaho 50 22 10 -10
49 Tennessee 46 35 41 -6
50 Nevada 42 33 51 -2
51 Mississippi 51 51 22 -1

Note: Rankings are based on data available as of 2 p.m. EST on Monday March 23.

Posted in Health, WalletHub

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