Ohio Unemployment Drops to 7.7% in Janaury

By Daniel Downs

The Ohio Labor Market Review reported a drop in unemployment from 7.9% in December to 7.7% in January. The national unemployment also dropped two tenth of a percent (8.3%) in January. Employment gains were seen primarily in the service sectors and good producing industries.

The number of new jobs in the service sector included 6,800 leisure and hospitality jobs, 6,000 in education and health services, 5,300 in business related services, 3,200 new trade, transportation and utilites jobs, 2,400 in financial services, 100 in government, and 2,400 more jobs in other industries. The construction industry added 6,200 jobs and manufacturing 1,400 new employees. I’m sure new schools, new or or renovation of health facilites, and military and other government facilities increased the demand for a substantial number of the new construction workers.

The Labor Market Review also reported a decline of weekly pay ($11.18/wk) and hours worked (.6/hrs) by factory employees.

Overall, Ohio employee weekly benefits increased slightly by $4.27

Like the nation, Ohio has a long way to go before reaching pre-recession levels of employment. The 2006 unemployment rate was 5.4% and it was 4.0% in 2000. It took nealy over 3 years for the unemployment rate to reach the current rate of 7.7% from its peak of 10.1% in 2009. Hopefully, the current momentum will shorten the time it will take to reach the 2006 rate. However, many–if not most–of the government stimulated jobs will have come to end.

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