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Friday, November 22, 2024

'Congress should remove barriers to employment': Wisconsin, South Carolina rank middle of the pack in post-COVID-19 economic recovery

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Unemployment rates are down in Wisconsin and South Carolina. | Pixabay/Sue Styles

Unemployment rates are down in Wisconsin and South Carolina. | Pixabay/Sue Styles

Unemployment rates are down in Wisconsin and South Carolina, two states that rank in the middle of state economies recovering from the COVID-19 pandemic. 

According to the U.S. Bureau of Labor Statistics, the latest numbers from Wisconsin (May) indicate that out of Wisconsin’s total labor force of 3 million workers, 2 million are employed and 119,700 are unemployed, resulting in an unemployment rate of 3.9%. 

Wisconsin has more workers than South Carolina but the unemployment rate is slightly lower than South Carolina as employees get back into jobs after the pandemic. 

According to the bureauthe latest numbers from South Carolina (May) indicate that out of the Palmetto States' total labor force of 2.3 million workers, 2.2 million are employed and 110,300 are unemployed, resulting in an unemployment rate of 4.6%. 

Both Wisconsin and South Carolina fall in the middle of the ranking when it comes to state unemployment rates across the country. 

The Chicago Tribune reports that Wisconsin ranks 19th out of the 50 states in terms of economic recovery from the pandemic. Its real GDP in the fourth quarter of 2020 totaled $348.2 billion, 10.9% greater than in the second quarter of 2020.

The Tribune reports that South Carolina ranks 26th out of 50 in its economic recovery. Its real GDP in the fourth quarter of 2020 totaled $248.8 billion, 10.7% greater than in the second quarter of 2020.

In a recent policy report, Romina Boccia and Adam Michel of the conservative-leaning Heritage Foundation argued that, "The most effective policies that enable the American economy to recover will remove disincentives that stand in the way of economic activity. Policymakers can realize the great American economic recovery through ensuring policy predictability and pursuing an environment that enables working, hiring, commerce and investing without unnecessary distortions."

Both states experienced their highest unemployment rates at the beginning of the pandemic. 

The U.S. Bureau of Labor Statistics reports that, at the height of the COVID-19 pandemic in April 2020, Wisconsin experienced their highest unemployment rate at 14.8%, and April 2020, South Carolina experienced their highest unemployment at 11.5%. 

"Intentionally shutting down economic activity deemed non-essential by state governors to contain the spread of the novel coronavirus has had dramatic effects on the livelihoods of millions of Americans," said the Romina Boccia and Adam Michel of the Heritage Foundation. "As long as bad policy does not get in their way, Congress should remove barriers to employment, business expansion, entrepreneurship, capital formation and supply chains in order to enable the great American economic recovery."

The foundation said that the most pressing barriers include that that increase costs unnecessarily, restrict access to resources and limit the public's ability to work. 

"Removing barriers to economic activity, not stimulating new spending or further federal bailouts of state and local budgets, is key to getting America back to work," Boccia and Michel wrote.  

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