Ohio’s slow climb from recession continued in July
Posted August 17, 2012 in Press Releases
For immediate release
Contact: Hannah Halbert, 614 221.4505
Data from two separate surveys released by the Ohio Department of Job and Family Services (ODJFS) today suggest that Ohio continues its slow climb out back from the recession. The unemployment rate held steady in
Month-to-month data is highly subject to revision, and it is ill advised to make too much of month-to-month comparisons. There is more certainty in examining longer-term job trends. Ohio has now posted five-figure job gains in each of the last three months. Over the last twelve months, the state job total has grown by 100,300 jobs or 2.0 percent. At that rate of growth it will still take more than two years to generate the additional 233,300 jobs needed to return Ohio to pre-2007 recession levels of employment. That figure would be even higher if population growth were taken into account.
The household survey revealed that the state’s labor force continued to decline, losing 24,000 workers in July. This is a worrying trend and suggests that the recent job gains are not enough to bring discouraged workers back into the workforce.
“Even with this summer’s gains, the state is a long way from recovery,” said Hannah Halbert, policy liaison with Policy Matters Ohio. “We have lost 35,400 local public jobs since the end of the last recession, which has been an unnecessary drag on the state’s recovery. As these jobs disappear, vital neighborhood services will also vanish. Ohio needs investment, not austerity, to restore our communities and grow good jobs.”