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.

“In January, Ohio’s unemployment rate increased from 3.6 percent to 3.7 percent—in line with the national average for January—while the labor force participation rate remained flat at 61.8 percent—trailing the national average of 62.5 percent. While still low, January’s report continues a trend of climbing unemployment that started in July 2023, indicating a weaker job market.

“The good news is that private-sector employment grew by 6,400 jobs. However, the fact that some sectors—construction and leisure and hospitality—reported job losses, while others—professional business services—reported substantial gains is more evidence that Ohio’s job market has cooled since the summer and early fall of 2023. 

“To reverse the cooling trend, Ohio policymakers should focus on comprehensive spending reductions and tax reforms to ensure Ohioans keep more of what they earn and implement policies that encourage job growth, business expansion, and attract new employers to the Buckeye State.” 

# # #