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Feds leave work to the local officials

Though federal officials are fond of talking about a “soft landing” as they manipulate the economy via interest rates and other policies, we here in the Mahoning Valley, know those landings tend to be a little bumpier.

A look at “Changes in Unemployment Rate by State,” by WalletHub, indicates that may already be evident. The study looked at how unemployment rates are changing in the 50 states and Washington, D.C., using data as recent as December 2022. Overall, Ohio ranks a dismal 43rd.

With the most recent unemployment rate at 4.2 percent, that means the change in unemployment from November 2022 to December 2022 was 0.35 percent, and from December 2021 to December 2022, the change was -15.1 percent. By comparison, New Mexico was top in that category, with a year-over-year change of -33.1 percent.

From December 2020 (in the depths of the COVID-19 pandemic) to this past December, the change has been -31.7 percent. Hawaii has managed to rebound to the degree that for the same period change there was -66.9 percent.

Certainly, there are differences in the states’ populations and economies that make these kinds of comparisons somewhat unfair. But that is precisely why the federal government has got to be careful about applying blanket policies they KNOW will hurt some for the sake of helping others.

Our national unemployment rate is 3.5 percent. Those who use federal interest rate increases to defeat inflation say they anticipate it will increase that national average rate to 4.4 percent. What would a similar percentage point increase look like in Ohio, when we are already behind on the recovery we are told much of the rest of the country has experienced?

If, as we have become accustomed, those in Washington, D.C., aren’t really interested in the answer, Ohio officials — state and county — will have to be as much of a buffer as possible to those communities where residents can’t take many more hits.

Remember, we are approaching the last month in which those who are eligible for Supplemental Nutrition Assistance Program benefits will receive the extra check they have received for nearly three years. On that front alone, Washington, county public officials, grant writers, agency staff and their local private partners are working hard to cushion the blow. Because they are here. They know our county and our people, and they know the need. They are to be commended for their work done thus far. But if the talk from Washington is any indication, that work is just beginning.

editorial@vindy.com

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