The Buckeye Institute: Ohio Sees Small Improvement in its June Jobs ReportJul 16, 2021
Columbus, OH – Rea S. Hederman Jr., executive director of the Economic Research Center at The Buckeye Institute and vice president of policy, commented on newly released employment data from the Ohio Department of Job and Family Services.
“Although this month’s jobs report is stronger than last month’s, it does not fully offset May’s losses and some concerning signs remain. The unemployment rate rose again to 5.2 percent and the labor force participation rate increased a disappointing .3 percent and remains well below the rate seen in April. These worrying signs were, however, accompanied with the good news that Ohio created 19,900 private-sector jobs, which more than offset the loss of 14,200 jobs in May.
“More than half of the new private-sector jobs created (10,600) where in the hard-hit leisure and hospitality sector. Although still down almost 100,000 jobs, this sector is slowly recovering as more Ohioans travel and dine out. Manufacturing also bounced back, adding 1,700 new jobs, at the same time construction lost 800 jobs as higher supply costs impacted the industry. While these numbers provide an indication of how various sectors of the economy continue to be impacted by and recover from the pandemic, it is important to keep Ohio’s overall jobs picture in mind. As recovery from the pandemic continues, the state still needs to create nearly 250,000 private-sector jobs to return to the pre-pandemic level of 4.8 million jobs.
“Ohio’s new budget will help keep the state economically competitive by lowering the average taxpayer’s tax burden and simplifying the tax code. Next month’s jobs report will be the first where we will see the impact Governor DeWine’s wise decision to decline federal unemployment funds, which will encourage more Ohioans to enter the labor market. While Ohio needs to tighten its fiscal belt, these recently adopted Buckeye-championed policies will aid Ohio’s economic recovery.”
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