Two years after the beginning of the COVID-19 pandemic, the labor market is approaching 2020 levels. But a new report from the Economic Policy Institute (EPI) shows that disparities remain in terms of race and ethnicity. Here are eight important things from the EPI report you should know.
- The overall unemployment rate of 3.8% is currently the same level it was at the beginning of 2020. The majority of states have an unemployment rate within 1% of what they had in 2020.
- The lowest unemployment rates are in Nebraska and Utah (both at 2.1%). The highest rates are Washington, D.C. (6.1%) and New Mexico (5.6%).
- The unemployment rate for White workers is the same in 2022 (3%) as it was pre-pandemic.
- The unemployment rate for Black workers remains higher (6.5%) than before the pandemic (6.2%).
- No state saw Black unemployment below 5%. The states with the lowest rates were Georgia (5%) and Florida (5.3%). The highest rates were in D.C. (12.5%) and Illinois (12.2%).
- Hispanic workers have an unemployment rate (4.6%) slightly below their 2020 rate (4.8%).
- The states with the lowest Hispanic unemployment are Georgia (2%) and North Carolina (2.5%). Those with the highest rates are Massachusetts (7.5%) and New York (6.3%).
- For Asian workers, the current unemployment rate is higher (3.4%) than it was before the pandemic (3.1%).