The Buckeye Institute: Ohio’s Job Market Sees Tepid GrowthAug 19, 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.
“Ohio’s July jobs report ends the state’s two-month slide of jobs losses with the private sector adding 6,900 new jobs. The unemployment rate was unchanged at 3.9 percent. However, the labor force participation rate fell from 62 percent to 61.9 percent, the same decline as in July’s national jobs report.
“The increase in private-sector jobs more than offset June’s job loss but is tepid compared to the national jobs market, which added 528,000 jobs in July. Manufacturing had the largest growth in jobs as companies filled backlogs and inventories, but worries about future orders remain. While construction and arts and recreation saw job losses as economic uncertainty and inflation continue to impact these sectors.
“July’s report is positive, if not overwhelming. Ohio added jobs for the first time since the spring, but job growth continues to disappoint, with the state lagging behind the nation. Like many other states, Ohio has not seen workers re-enter the labor force since the start of the pandemic, and some policies—like the bonus unemployment payments—discouraged workers from returning to their jobs. To reverse this trend, state lawmakers need to adopt policies that encourage Ohioans to return to the workforce, such as restoring work and community engagement requirements to benefit programs.”
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