The Buckeye Institute: Just in Time for Christmas, Ohio Sees Third Best Job Growth Year in Last Three DecadesDec 21, 2018
Columbus, Ohio – Andrew J. Kidd, Ph.D., an economist with The Buckeye Institute’s Economic Research Center, commented on newly released employment data from the Ohio Department of Job and Family Services.
“Just in time for Christmas, Ohioans received an early present: Private sector job growth has surpassed 106,000 for the year—the third best job growth year in the last three decades. The unemployment rate is also down for the year from 4.9 percent in November 2017 to 4.6 percent in November 2018.
“However, the coal in the stocking is a stagnant unemployment rate at 4.6 percent for the last five months—still almost a point above the national average—and a falling labor force participation rate, which fell from 62.5 percent in October to 62.4 percent in November. This means fewer people are looking for work or working, a trend Ohio should not want to continue into the New Year.
“In November, 5,800 Ohioans found jobs, with large gains in manufacturing (1,400 jobs), professional and business services (2,800 jobs), and education and health services (1,700). Yet, the Grinch of the month was GM announcing the closing of its Lordstown plant. With pending job losses, some Ohioans will need new careers. Policies that assist in career transitions and make Ohio a business-friendly state will promote more job creation to help these displaced workers.
“Even with a robust job growth year, Ohio still has work to do to become a national leader, and policymakers should start the New Year with a resolution to sustain the pro-growth policies of Governor John Kasich and, combined with prudent budgeting, make 2019 another successful job growth year for the state.”
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