The Buckeye Institute: October’s Jobs Report Continues to Signal Concern for Ohio’s Job MarketNov 15, 2019
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.
“October’s jobs report signals concern for Ohio’s job market—even though the unemployment rate remained unchanged at 4.2 percent. The household survey shows fewer people employed and more people searching for, but not finding jobs. Combined with a 4,000-net private sector job loss reported in the establishment survey, job growth in Ohio continues to slow with only 3,600 new jobs being added in 2019.
“The manufacturing sector experienced one of its largest declines with the loss of 2,300 jobs, although much of that loss is attributed to the GM-UAW strike, and many of those workers returned to their jobs after October’s data were collected. The trade, transportation, and utilities sector lost 1,700 jobs—mainly due to job losses in retail trade and some spillover from the GM-UAW strike. And the professional services sector lost 1,700 jobs. There was substantial job growth in the health care and social assistance sector, which added 2,500 jobs, and the leisure and hospitality sector added 2,400 jobs. These two sectors have greatly offset losses in other sectors to keep Ohio’s job growth positive for the year.
“With recent reports that Ohio’s economy could fall into a recession by the spring of 2020, it will be important to watch job creation over the next several months to determine if October’s job losses are a blip or the start of a decline. But policymakers can act now by adopting pro-growth economic policies that will ensure businesses can create more jobs, and by adopting job training policies and occupational licensing reforms to ensure more Ohioans have the opportunities and the skills to get the jobs they need to provide for their families.”
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