Discouraging report for June: Fewer jobs, more unemployed
Posted July 19, 2013 in Press Releases
For immediate releaseContact Hannah Halbert, 614.221.4505Download JobWatch
Ohio has gained just 16,000 jobs over the past year, an anemic performance.
Jobs data released Thursday by the U.S. Department of Labor Statistics show that Ohio jobs took a dip in June. Ohio had the second biggest month-to-month decline in the nation, with a loss of 12,500 jobs. This follows a month when Ohio led the country in job growth. Yesterday’s data highlights how arbitrary month-to-month comparison can be, and how important it is to focus on longer-term trends. Monthly data is always reported as preliminary, and will be revised and benchmarked.
The bigger concern from yesterday's data is that Ohio has added only 16,000 jobs over the last twelve months (June 2012- June 2013), a very slow 0.3 percent growth rate. In the prior twelve-month period (June 2011-June 2012), the state added more than 113,500 jobs (2.2 percent). The data has shown a volatile, up-and-down pattern for most of this year, but overall the recovery remains weak.
Data from the household survey were also discouraging. The number of unemployed grew, helping to bring an increase in the unemployment rate to 7.2 percent from 7.0 percent in May.
Ohio needs 216,700 jobs just to make up for losses in the last recession. June marked four years of official recovery, and in those four years Ohio has only added 158,300 jobs. The state policy of austerity is not generating the promised job growth. We need investment in our communities to get back on track.