Columbus, OH – Rea S. Hederman Jr., executive director of the Economic Research Center and vice president of policy at The Buckeye Institute, commented on the newly released jobs report from the Ohio Department of Job and Family Services.

“Ohio ended 2023 on a slightly down note with its unemployment rate increasing to 3.7 percent—the same as the national average—and a drop in the labor force participation rate to 61.9 percent—lower than the national average. 

“Despite the slight increase in the unemployment rate, Ohio added 5,000 new private-sector jobs in December, and 2023 was a good year for Ohio workers overall. The state started the year with an unemployment rate of 4.1 percent—almost half a percent higher than the current rate, and for much of 2023, Ohio’s job market outpaced the national average.
 
“A key to Ohio’s success are the tax and regulatory reform policies that lawmakers adopted. To keep the Buckeye State moving forward, lawmakers should continue to pursue further reforms in these areas. Twenty-three state agencies cut regulations by at least 10 percent in 2023, with further cuts planned. These reforms will allow employers to expand their businesses faster and entrepreneurs to innovate and start new businesses. This growth will create more jobs for Ohio’s workers.”

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