The Buckeye Institute: Ohio’s August Jobs Report a Mixed BagSep 16, 2022
Columbus, OH – Rea S. Hederman Jr., executive director of the Economic Research Center at The Buckeye Institute and vice president of policy, commented on the newly released jobs report from the Ohio Department of Job and Family Services.
“In August, Ohio’s unemployment rate increased from 3.9 percent to 4.0 percent even as the labor market added 7,800 private-sector jobs. The monthly report, which includes data from two surveys, told two different stories.
“The household survey had bad news for Ohioans with an increase in the unemployment rate and a decrease in the labor force participation rate, meaning there were fewer Ohioans in the job market and those who were, had a harder time finding work. Ohio’s labor force participation rate contrasted with the national rate, which saw more workers enter the job market in August.
“While the household survey was cause for concern, the payroll survey of businesses showed positive signs. The private sector added 7,800 jobs—up 79,100 since August 2021. Although Ohio still has more than 80,000 fewer private-sector jobs than it did before the pandemic, the state is closing the pandemic job loss gap.
“Despite the mixed bag of good and bad news, this jobs report is only one month of data and does not present a worrying trend alone. The bigger story is that Ohio’s job market is not growing as fast as it was in the spring. But opportunities are on the horizon. With Intel breaking ground on its new manufacturing plant, there should be greater job growth in the future, and policymakers must take action now to ensure that Ohio has enough workers to fill these new jobs.”
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