December 20, 2013
December 20, 2013
Ohio's loss of 12,000 jobs in November puts the state's year-over-year growth rate at 0.4 percent. Nationally, jobs grew by 1.7 percent over the same time.
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Ohio lost 12,000 jobs in November, according to data from a survey of employers released today by the Ohio Department of Job and Family Services. This, the largest over-the-month decrease in the nation, puts the state's year-over-year growth rate at a measly 0.4 percent. The nation's jobs grew by 1.7 percent over the same time.
Monthly numbers are always preliminary and subject to revision, making it unwise to make too much of these fluctuations. However, long-term trends are concerning.
"Since the 2005 tax overhaul Ohio has had 3rd worst rate of growth in the nation, and our rate is 5th worst over the past 12 months," said Hannah Halbert, workforce researcher for Policy Matters Ohio. "Cutting taxes and reducing funding for essential programs and services is not producing the promised economic growth."
This month's numbers show a very large decline of 8,300 arts, entertainment and recreation jobs, or 10.9 percent. We will need to watch if this decline is sustained.
The longer-term trends show that Ohio's job growth has been anemic. Over the past 12 months, Ohio gained 19,800 jobs, an increase of 30,000 private sector jobs offset by the loss of more than 10,200 public jobs. The state is now down more than 23,000 jobs from our 2013 peak in May.
Ohio's unemployment rate fell slightly to 7.4 percent in November, according to data from a separate survey of households also released by ODJFS. In another positive sign, Ohio's labor force grew. Nationally, the unemployment rate fell to 7 percent.
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