50-State Rankings for February 2020-January 2022
State Job Recovery Trends
- Kansas (+0.6%), Maine (+0.6%), Idaho (+0.5%), Utah (+0.5%), and South Carolina (+0.5%) led January 2022 percentage job growth.
- California (+53,600) and New York (+36,800) had the most job creation in January, followed by Texas (+29,000) and Florida (+25,300).
National Job Recovery Trends
- The US lost 22 million jobs from February 2020-April 2020.
- Leisure and hospitality, the hardest hit sector, lost 8.2 million jobs.
- The US is currently 2.1 million jobs below pre-pandemic levels, a 1.4% net decline.
Key Takeaways: The Impact of State Policies on Job Recovery
- Annual Bureau of Labor Statistics (BLS) revisions show that the jobs recovery was previously underestimated across states, particularly in large states like California, Florida, and New York.
- Ten states exceed their pre-pandemic job counts. All ten states embrace economic freedom policies.
- Idaho, Montana, Arkansas, Texas, North Carolina, Arizona each cut taxes and spending in 2021.
- States like New York that imposed more pandemic restrictions and increased taxes continue to underperform in economic recovery.
- Fewer economic restrictions, lower taxes, and common-sense regulations have resulted in stronger recoveries and more economic opportunity.
- Dozens of states are considering tax cuts in 2022, which will increase their competitiveness for businesses and remote workers.