AMARILLO, TX—The August jobs report showed that the national unemployment rate fell to 8.4%, which is almost half of its peak of 14.7% during the height of the COVID-19 pandemic. Those employment stats exemplify further signs of recovery in middle America.
To provide more context at the city level, WalletHub released a mid-year report on the cities where unemployment rates are bouncing back. The most recovered cities include Amarillo, TX; Plano, TX and Lubbock, TX.
"Amarillo had the fourth best unemployment rate recovery in July," Jill Gonzalez, WalletHub analyst, tells GlobeSt.com. "Overall, the city's unemployment rate is 5.3%, which is about half of the average of 10.2%. Plano has the 11th best unemployment recovery. The city has experienced a 103% increase in unemployment since the beginning of the year, which is considerably lower than the average increase of 203%. Its overall unemployment rate is 6.5%, among the lowest in the country."
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
