The April 2014 Ohio By the Numbers report continues to paint a mixed picture for Ohio’s economy. On the positive side, Ohio’s private sector gained jobs and the unemployment rate sharply declined. Ohio added 8,000 private sector jobs (and 4,600 government jobs) and the unemployment rate declined from 6.1 percent in March to 5.7 percent in April. However, the unemployment rate decline, despite settling at over half a percent below the national average of 6.3 percent, is partially the result of another month of significant decline in Ohio’s Labor Force — a decline of 14,000 people. As The Buckeye Institute’s Labor Force report indicates, Ohio’s Labor Force has lost more than 24,000 people in the last two months and is down nearly 17,000 people since January.
Overall, Ohio’s Labor Force Participation rate has slipped from 63.7 percent in April 2013 to 63.1 percent this April. This reduction was caused by a 27,000 April-to-April loss of people participating in the Labor Force, despite the working age population growing by 43,000 people over the same time period.
Ohio continues to see private sector job gains, but a continuing test to Ohio’s recovery is the state’s shrinking Labor Force.
For a full Labor Force update, click here.
Overall highlights from the report:
- Ohio gained 8,000 private sector and 4,600 government jobs in April;;
- Ohio ranked 26th nationally in private sector job growth since January 2010, growing at a 7.6 percent rate;;
- Ohio currently ranks 47th nationally for private sector job growth since January of 1990, growing at 10 percent (top-ranked Nevada grew 98 percent over the same time span).
Within individual industry sectors, Professional and Business Services, Education and Health Services, and Leisure and Hospitality continue to employ more people today than in either 1990 or 2000. Meanwhile, Mining and Logging, Construction, Manufacturing, and Information sectors have fewer jobs today than in 1990 or 2000.
Between 1990 and January 2012, Worker Freedom states’ private sector jobs grew at a 38 percent rate vs. only 14 percent for Forced Union states (11.8 million vs. 8 million). Since Indiana became a Worker Freedom state in February 2012, Worker Freedom states’ private sector jobs grew at a rate of 5.2 percent vs. 3.9 percent for Forced Union states.
For the full report, please click here.