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Employment Spectator
The Unemployment Rate in Ohio is Dropping but Still Losing Jobs By jim  While the unemployment rate in Ohio dropped to 6.5 percent in February, lower than the national average and the lowest rate in the state in six years, the same can’t be said for jobs lost. The most recent figured showed that although their average unemployment rate is improving, they have also lost 4,600 jobs, according to the Akron Beacon Journal. For the 16th month in a row, the unemployment rate in Ohio is lower than the national average, including having a higher job growth rate in the state than the average in the United States. George Zeller who is a researcher in Cleveland, Ohio analyzing economic data said that all 4,600 jobs lost were in the government sector. He said, “This is what’s slowing down the growth – the government cuts at all three levels, federal, state and local.” Zeller believes that looking at the number of jobs being added versus those being cut reflects a more realistic picture of the economy in Ohio, as opposed to what looks like a better unemployment rate. He also noted that a more reliable survey of about 20,000 employers in Ohio shows those significant job losses. On the other hand, Ohio had the second biggest job gains in the country when they added 16,700 new positions in January. Zeller looked at these numbers and analyzed them, believing the number to be about 1,200 less than they originally estimated. In Ohio, the jobless rate began improving just after the recession in 2008, lowering to 7.1 percent in 2013 and 6.7 percent most recently in 2014. The national unemployment rate was at 6.7 percent when Ohio’s jobless rate temporarily dropped to a record 6.6 percent. In February, there were 377,000 people in Ohio without jobs, though that was lower than the 395,000 jobless people just one month prior. In the last year, 44,000 unemployed individuals have found employment, improving their jobless rate exponentially. According to the U.S. Department of Labor, non-farm employment lowered by 4,600 jobs, while the goods producing sector lost 4,700 jobs. The manufacturing industry, which has always done well in Ohio, added 3,700 jobs in February, although in construction there was a big loss of 8,100 jobs. The service industry also got more jobs by adding a little over 4,000. Other industries with increases were business and professional services, education, healthcare, transportation and utilizes. As previously stated, the government sector for local government saw a loss of more than 4,000 jobs in Ohio in February while federal government jobs in the state dropped by 600. Over the last year, there have been a total of 50,000 jobs added in the non-farming industries, including the biggest rises in manufacturing, goods producing industries, and construction. Click here to find out which are jobs are available in Ohio. |
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