Personal finance website WalletHub this week released a report on “Cities with the Biggest Increases in Unemployment Rates Due to COVID-19” and Charleston ranked as having the 14th biggest increase.
This report uses new data from the Bureau of Labor Statistics, which recently disclosed that it erroneously didn't count many workers on temporary layoffs as unemployed. Therefore, the real unemployment rate may be around 33 percent higher than reported, and the Wallethub report includes both the official rate and an “adjusted” rate based on this error.
Below, you can see highlights from the report, along with a WalletHub Q&A.
Increase in Charleston Unemployment Due to Coronavirus (1=Biggest, 90=Avg.):
*Adjusted for the BLS error that failed to classify workers on temporary layoffs as unemployed.
Staycationing in Charleston (1=Best; 91=Avg.):
- 27th – Bike Rental Facilities per Capita
- 53rd – Hiking Trails per Capita
- 21st – Average Price of Pizza & Burger
- 47th – Average Home Square Footage
- 26th – Walking Trails per Capita
To read the full report, click here.