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May 21st, 2013 By German Lopez | News | Posted In: News, Economy

Local Job Numbers Continue Positive Trend

Cincinnati unemployment rate drops to 6.9 percent

city hallCity Hall - Photo: Jesse Fox

Local joblessness fell sharply in April, continuing a positive trend as Cincinnati’s economy recovers from the Great Recession, according to new data from the Ohio Department of Job and Family Services (ODJFS).

“We’re continuing to see the same positive trend at both the local level and the state level,” says Michael Jones, research director at the University of Cincinnati Economics Center.

Cincinnati’s seasonally unadjusted unemployment rate dropped to 6.9 percent in April, down from a revised 7.4 percent in March and 7.4 percent in April 2012.

In the past, the unemployment rate sometimes dropped as people gave up on looking for work and left the civilian labor force, but the April report reflected genuine improvements in the local economy. The civilian labor force and amount of people with a job were higher, and the amount of people without a job dropped.

The news was similarly positive for the rest of the region.

Greater Cincinnati’s seasonally unadjusted unemployment rate dropped to 6.5 percent, down from 7.2 percent in March and 7 percent in April 2012. Hamilton County’s rate hit 6.3 percent, down from 6.9 percent in March and 6.8 percent the year before.

Jones says the health care sector has been one of the leading areas of growth in the local economy, but the April report also showed strong gains in manufacturing — allaying fears raised in recent months that the industry, which Jones calls “volatile,” was beginning to recede.

“We’re starting to see that upward swing again,” Jones says. “We’re not back on track ... but we’ve erased the last couple months of losses.”

Still, the public sector has continued to decline, reflecting budget cuts made at all levels of government in the past couple years.

Jones says it’s common for the public sector to lag behind the private sector, so it’s possible there will be government job gains in a few months once government budgets are updated to match higher tax revenues resulting from the recovering economy.

In Ohio, the seasonally unadjusted unemployment rate was 6.7 percent in April, down from 7.3 percent the month before. Nationwide, the rate was 7.1 percent, down from 7.6 percent.

Job numbers are obtained through household surveys by the U.S. Bureau of Labor Statistics, which uses the data to measures the amount of people employed relative to the civilian labor force. The numbers are adjusted for seasonal factors at state and national levels, but not at the local level. Since the numbers are obtained through surveys, they are often revised with stronger data in later months.

 
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