WHAT SHOULD I BE DOING INSTEAD OF THIS?
 
November 20th, 2012 By German Lopez | News | Posted In: Economy, News

Cincinnati Unemployment Ticks Down to 6.8 Percent

City remains ahead of nation, behind state, county

city hallCincinnati City Hall - Photo: Greg Hume

The City of Cincinnati’s unemployment rate moved down a notch between September and October, from 6.9 percent to 6.8 percent, according to data from the Ohio Department of Job and Family Services. Greater Cincinnati and Hamilton County followed suit; Greater Cincinnati dropped from 6.4 to 6.3 percent, and the county dropped from 6.4 to 6.2 percent.

The numbers, which were unadjusted for seasonal factors, seemed positive overall. Unlike last month, the unemployment rate did not move down due to people leaving the civilian labor force, which measures the amount of people looking for work in addition to the amount of people who have jobs. Instead, labor forces in Cincinnati, Hamilton County and Greater Cincinnati all grew. 

The city is now better across the board than it was in October 2011.

The civilian labor force and amount of employed are larger, and the amount of unemployed is lower. The city’s current 6.8 percent unemployment rate is also a vast improvement from the 9.1 percent unemployment rate in October 2011.

Greater Cincinnati and Hamilton County made similar improvements in all numbers. Back in October 2011, Greater Cincinnati was at 8.1 percent unemployment, and Hamilton County was at 8.3 percent.

However, Cincinnati remains below the state’s seasonally unadjusted unemployment rate of 6.3 percent. It does beat the nation’s seasonally unadjusted 7.5 percent rate, however.

Part of the recovery is likely fueled by improvements in the housing market. Cincinnati’s housing numbers from October showed a 16.5 percent year-over-year improvement, according to the Cincinnati Area Board of Realtors.

Unemployment numbers are calculated through a household survey. The unemployment rate gauges the amount of unemployed people looking for work in contrast to the total civilian labor force. Since the numbers are derived from surveys, they are often revised in later months. State and federal numbers are typically adjusted to fit seasonal employment patterns to give a more consistent rate, while local numbers are not.

 
 
 
 
Close
Close
Close