facebooktwitterRSS
- Advertisement -
  • Most Commentedmost commented up
  • Most Emailedmost emailed up
  • Popularmost popular up
- Advertisement -
 

« News Home

Valley shows signs of economic recovery



Published: Wed, November 21, 2012 @ 12:10 a.m.

photo

By Burton Speakman

bspeakman@vindy.com

YOUNGSTOWN

For the first time since March, the Mahoning Valley combined increased employment, shrinking unemployment and a growing labor force in October, all of which are signs of economic recovery.

The unemployment rate for Mahoning, Trumbull and Columbiana counties combined dropped to 7.2 percent, according to Ohio Labor Market Information figures released Tuesday. There were 500 fewer people unemployed in the Valley, an increase of 1,300 jobs, and the local work force grew by 1,000.

Mahoning County at 6.6 percent had the lowest unemployment rate of the three counties, followed by Colum-biana at 7 percent and Trumbull at 7.8 percent.

Job growth was equal throughout the three counties. The increase in the labor force was the largest in Trumbull County at 400 workers.

The overall figures for the area are good, and the growth compared with 2011 shows the Valley is on an upward trend, said Tod Porter, professor of economics at Youngstown State University.

“The real litmus test is if employment is growing, and it is,” he said. “The market is up in all three categories [employment, unemployment and work force] and that’s as good as it gets.”

The number of people employed in the Mahoning Valley increased by 3,700 jobs going back to October 2011, according to labor market information.

“A few more months of this and we’ll be able to really chip away at the unemployment rate,” Porter said.

The only potential negative is that some of this new hiring is the result of seasonal employment, he said. Seasonal employment is typically nearly 1 percent higher in Octo- ber compared with the average month.

October is actually the month when seasonal hiring peaks, Porter said.

The area has seen indicators of growth for months through job orders at the local One-Stop offices, said Bert Cene, director of the Mahoning and Columbiana Training Association. Companies like V&M Star, Exterran and Valerus have announced hiring over the past few months.

“In the past, I’ve been cautiously optimistic, but this is validation that we have been and are moving in the right direction,” he said.

The Trumbull County One-Stop has seen solid activity in both permanent and seasonal hiring, said Benjamin Turner, director of the office.

“They’re not great gobs of jobs but they’re coming in small groups,” he said. “There’s not one company I can reference and state they’ve added 100 or 200 jobs.”

The primary areas of growth have been in distribution and manufacturing, Turner said. His expectation is continued hiring increases will be in small bunches from businesses expanding.

A number of companies remain cautious about their actions because of the looming fiscal cliff situation, he said.

“The ramifications of that situation are pretty severe,” Turner said.

The Youngstown/ Warren Regional Chamber reported October was the fifth time in the past nine months that the unemployment rate was lower than the national average for the Youngstown- Warren-Boardman Metropolitan Statistical Area, which includes Mahoning, Trumbull and Mercer counties.

“It was good to see the jobless rate decline in all area counties last month, and I am encouraged that our local rate remains well below the national average,” said Tom Humphries, Regional Chamber president & CEO, in a statement.

“As we know, over the last 30 years, the metro area nearly always topped the national average in joblessness. It’s good to consistently be on the other side of the line,” he said.


Comments

1peggygurney(392 comments)posted 1 year, 10 months ago

Newsflash, that unemployment rate is going to shoot right back up again come January 1, when "Obamacare" goes into affect, and employers start laying off their employess because they can't afford (or just refuse to) purchase health coverage.

My employer stated the news that this is what he'll have to do.

Suggest removal:

2dd933(229 comments)posted 1 year, 10 months ago

These comments show the mentality of the majority of the commenters in this forum. We finally get good news on the employment numbers and all we come up with are negative responses. Maybe that's why our valley traditionally struggles. Our loudest voices are the naysayers.

Suggest removal:

3prodgodq(150 comments)posted 1 year, 10 months ago

dd993:
The most negative are always the loudest. Especially on anonymous internet message boards.

Suggest removal:

4iBuck(217 comments)posted 1 year, 10 months ago

Yes, by golly, economic recovery is a good thing... and we can be positive that another few months of such recovery as we've seen may bring us back to the worst point of the previous 2 recessions, another 10-20 years of such recovery might possibly lead to full employment.

http://www.kermitrose.com/images/Stat...

http://www.kermitrose.com/images/Stat...

Now wouldn't that be a welcome break from the GHWBush-Clinton-Shrub-Obummer economic depression.

Suggest removal:

5prodgodq(150 comments)posted 1 year, 10 months ago

Statistics can be read, and manipulated, to suit almost any purpose or any point of view. None of it matters. Statistics don't determine the choices we make or how we live our lives. My sense is that the negativity on this board comes from people who would be negative no matter how well things were going for them.
I would also guess that overcoming adversity is not a strong suit.

Suggest removal:


News
Opinion
Entertainment
Sports
Marketplace
Classifieds
Records
Discussions
Community
Help
Forms
Neighbors

HomeTerms of UsePrivacy StatementAdvertiseStaff DirectoryHelp
© 2014 Vindy.com. All rights reserved. A service of The Vindicator.
107 Vindicator Square. Youngstown, OH 44503

Phone Main: 330.747.1471 • Interactive Advertising: 330.740.2955 • Classified Advertising: 330.746.6565
Sponsored Links: Vindy Wheels | Vindy Jobs | Vindy Homes | Pittsburgh International Airport