Ohio unemployment down from last year
The Ohio unemployment rate was down in July compared with last year, with this year’s rate at 5.7 percent compared with 7.3 percent in 2013, according to the data released Friday.
The number of workers unemployed in Ohio in July was 323,000, which has decreased by 110,000 in the past 12 months from 433,000. The U.S. unemployment rate for July was 6.2 percent, down from 7.3 percent in July 2013.
Local unemployment numbers are to be released Tuesday.
Mekael Teshome, PNC economist, believes the U.S. unemployment rate should not be compared with Ohio’s or the Mahoning Valley’s.
“The Midwest grows at a slower pace,” Teshome said. “We are not going to grow as fast.”
Teshome said the report, overall, wasn’t unusual. There was an uptick in employment, and the state is moving toward economic recovery.
Ohio did see some declines in the government, health care and finance sectors. Government employment for state, local and federal has decreased by 5,500. Finance saw a decrease in financial activities by 5,500. Educational and health-services employment is down by 2,500.
From July 2013 to July 2014, Ohio has added 14,700 jobs in goods-producing industries. Manufacturing gained 11,700 jobs. Construction added 2,200 jobs, and mining and logging added 800. The most-significant gain occurred in professional and business services with 17,000 jobs added.
Nonagricultural wage and salary employment grew 24,400.