Buckeye on Ohio’s Jobs Report
Ohio’s October Jobs Report is Mixed
In October, Ohio’s unemployment increased from 3.4 percent to 3.6 percent, and the labor force participation rate declined from 62.1 to 62 percent. While Ohio’s unemployment rate remains below the national average, both the state and the country saw unemployment increase, indicating a slight cooling of the job market. Despite this uptick in unemployment, Ohio’s job market is strong, and a record number of Ohioans are working.
The two surveys used in Ohio’s jobs report were in conflict in October. While the household survey showed an uptick in unemployment, the payroll survey showed a record number of Ohioans working. This conflict is not unusual, but it is something to watch over the coming months.
To ensure this uptick in unemployment is just a blip, policymakers should increase job opportunities for Ohio workers and remove barriers that prevent Ohioans from prospering. Lawmakers should eliminate unnecessary occupational licenses and adopt policies to modernize Ohio’s economic system.