The Buckeye Institute: March Jobs Numbers Mark Initial Impact of COVID-19Apr 17, 2020
Columbus, OH – 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.
“The March jobs report marks the initial impacts COVID-19 has had on Ohio’s economy. With an unemployment rate of 5.5 percent and private sector job losses of 36,300, these figures will only get worse in the coming months. Already, more than 855,000 Ohioans have applied for unemployment, driven by mandatory business closures ordered by the state.
“Job losses were experienced across nearly every sector of Ohio’s economy with the largest impact hitting the leisure and hospitality sector, which lost 27,000 jobs in March due to the mandatory shutdown orders on restaurants and other social-distancing orders that have hurt Ohio’s tourism industry. These job losses are only the beginning. As the economic impacts of COVID-19 spread to other businesses and industries, more job losses are expected.
“While addressing the public health crisis remains a top priority, policymakers need to outline the criteria they are using to guide their decisions on the ‘phased-in reopening of the state economy.’ By outlining the criteria they are using, policymakers will give businesses time to reopen safely and the public will have greater confidence in the reopening process.”
During this crisis, The Buckeye Institute has outlined a number of policy solutions to strengthen Ohio’s health care system and provide for families and businesses facing unexpected economic hardship. Buckeye’s recommendations can be found at:
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