The Ohio February jobs report was just released this morning. For the twelfth straight month in a row, Ohio’s unemployment rate dropped from 9.3% in January (which was revised to show a larger drop than initially reported) to 9.2%. The national unemployment rate in February was 8.9%.
Ohio gained 13,600 jobs as the number of unemployed Ohioans also fell. So from February 2010 until last month, Ohio’s unemployment rate went from 10.6% to 9.2%, a 12-month 1.4% decrease. During that time, Ohio GAINED 77,600 jobs. The number of unemployed has dropped 82,000. So, most of the drop in unemployment can be attributed to people finding work, not people dropping out of the labor market. However, there is still a considerable amount of labor supply waiting to reenter the market as the economy continues to improve in Ohio.
Over the past 12 months, manufacturing in durable goods saw an increase of 13,100 new jobs. Note to the right wing: over the course of the past twelve months, more public sector employees lost their jobs than any other sector of the labor market in Ohio except for manufacturing of durable goods. All this talk in SB 5 that public employees have been spared any pain in the recession is just rubbish.
How on earth did Ohio’s economy recover without JobsOhio in place, SB 5 not yet law, and without undertaking the “reforms” in Kasich’s fuzzy-math “Jobs” budget?