WHAT SHOULD I BE DOING INSTEAD OF THIS?
 
 
by German Lopez 07.23.2013
Posted In: News, Economy at 10:32 AM | Permalink | Comments (0)
 
 
city hall

Cincinnati Receives Mixed Jobs Report for June

Metropolitan area adds jobs, but not enough to match population growth

The Cincinnati metropolitan area created more jobs in June, but the growth wasn’t enough to keep up with population trends, and it coincided with other negative factors. The June numbers, released today by the Ohio Department of Job and Family Services, showed Cincinnati adding 3,300 more jobs between May and June. But the region only added 600 jobs in the past year, far short of the 3,000 it must add on an annual basis to match population growth. As more people entered the job market, the amount of unemployed people looking for work rose month-over-month, while it slightly decreased in a year-to-year comparison. Cincinnati’s seasonally unadjusted unemployment rate hit 7.4 percent in June, up from 6.8 percent in May and the same as the year before. With seasonally unadjusted numbers, economists typically prefer looking at year-over-year trends to control for seasonal factors, such as increased summer hiring. Job numbers at the state and federal levels are normally seasonally adjusted, but local numbers aren’t. The seasonally unadjusted unemployment rate for Ohio was 7.5 percent in June, up from 7.4 percent last year. The U.S. seasonally unadjusted unemployment rate was 7.8 percent, down from 8.4 percent. Although the report was mixed for Cincinnati, the area has been getting good economic news lately. In June, local housing sales increased despite higher interest rates. In a July 22 segment, CNBC host Joe Kernen, a Western Hills native, declared, “Cincinnati has successfully reinvented itself as a hub for innovation” and technology.
 
 
by German Lopez 05.21.2013
Posted In: News, Economy at 02:01 PM | Permalink | Comments (0)
 
 
city hall

Local Job Numbers Continue Positive Trend

Cincinnati unemployment rate drops to 6.9 percent

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.
 
 
by German Lopez 04.23.2013
Posted In: News, Economy at 01:58 PM | Permalink | Comments (0)
 
 
city hall

Local Joblessness Falls Despite Slower Growth

Cincinnati unemployment rate down to 7.5 percent

Cincinnati’s seasonally unadjusted unemployment rate fell sharply in March, according to data released today by the Ohio Department of Job and Family Services (ODJFS). Michael Jones, research director at the University of Cincinnati Economics Center, says the numbers, while positive, were a slowdown from previous months. “The punchline is that growth is improving, but the rate of growth is slowing down,” he says. “But up is good.” Cincinnati’s seasonally unadjusted unemployment rate dropped to 7.5 percent in March, down from a revised 7.9 percent in February and 8 percent in March 2012. The lower unemployment rate coincided with other positive factors: a larger civilian labor force, more people employed and less people unemployed. Hamilton County’s seasonally unadjusted unemployment rate also dropped from 7.2 percent to 6.9 percent, and Greater Cincinnati’s rate dropped from 7.5 percent to 7.2 percent. Jones attributes most of the drop to the region’s strong growth in health care services, but manufacturing has also played a role. “Our manufacturing has come back stronger than the nation,” he says. In Ohio, the seasonally unadjusted unemployment rate fell from 7.8 percent in February to 7.3 percent in March. The U.S. seasonally unadjusted unemployment rate also fell, from 8.1 percent to 7.6 percent. But seasonally adjusted numbers for Ohio and the nation were widely considered weak, particularly in comparison to previous months. Job numbers at the state and national levels are typically adjusted for seasonal factors, but local numbers are not.Unemployment numbers are collected through a household survey. The unemployment rate measures the amount of people employed relative to the civilian labor force, which accounts for the amount of people looking for jobs and people employed. Since the numbers are obtained through surveys, they are often revised in later months.
 
 
by German Lopez 03.26.2013
Posted In: News, Economy at 11:20 AM | Permalink | Comments (0)
 
 
city hall

Local Unemployment Rate Plummets

February jobs report shows dramatic drop in joblessness

Cincinnati, Hamilton County and Greater Cincinnati experienced dramatic drops in the seasonally unadjusted unemployment rate between January and February, according to new data released by the Ohio Department of Job and Family Services (ODJFS). In Cincinnati, the seasonally unadjusted unemployment rate dropped to 7.5 percent in February, down from 8.6 percent in January. The civilian labor force, which measures the amount of people working and seeking jobs, also dropped from 139,400 to 138,900, which means less people were looking for work. The amount of people employed rose from 127,400 to 128,600 and the amount of people unemployed dropped from 12,000 to 10,300. At the county level, the civilian labor force remained steady, while the seasonally unadjusted unemployment rate dropped from 7.9 percent in January to 7.1 percent in February. Across all of Greater Cincinnati, the unemployment rate dropped from 8 percent to 7.4 percent, even as the civilian labor force grew by 1,300 — a sign that more people in the region are looking for work.Michael Jones, research director at the University of Cincinnati Economics Center, says the report was encouraging and consistent with the past few years’ trends: “We’ve seen a lot of activity in the Cincinnati area. We know a few companies have been actively growing their businesses.” The gains were also improvements in a year-over-year comparison. In February 2012, Cincinnati’s seasonally unadjusted unemployment rate was 8.4 percent, Hamilton County’s rate was 7.8 percent and Greater Cincinnati’s rate was 8.2 percent. The civilian labor force was also larger in Cincinnati, Hamilton County and Greater Cincinnati in February 2012, but less people were employed across-the-board.Jones says looking at employment numbers is a much better way to gauge economic health than looking at the size of the civilian labor force. While employment purely measures job growth, the civilian labor force can be driven by demographic changes — including an aging, retiring population — and people going back to school full-time, according to Jones. In February, Ohio’s seasonally unadjusted unemployment rate was 7.6 percent, and the U.S. seasonally unadjusted unemployment rate was 8.1 percent.Jones says Cincinnati and Ohio are poised to continue strong growth: “We have a strong health care sector. As health care continues to be an important component of our economy, … Cincinnati is very well positioned to capture that growth.” State and federal numbers are typically adjusted to account for seasonal employment patterns, while local numbers are not. 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.Update (3:54 p.m.): This story was updated with comments from Michael Jones, research director at the University of Cincinnati Economics Center.
 
 
by German Lopez 09.12.2012
Posted In: Government, News, Economy, Spending at 01:44 PM | Permalink | Comments (0)
 
 
randall meyer

Inspector General: ODJFS Wrongly Reimbursed Companies

Hired organizations did not properly comply with federal stimulus requirements

Ohio’s inspector general released a report today criticizing the Ohio Department of Job and Family Services (ODJFS) for improperly reimbursing federal stimulus funds to hired organizations that did not follow rules. In a statement, Inspector General Randall Meyer’s office said ODJFS “failed to adequately oversee federal grant funds applied to the Constructing Futures jobs training initiative for Central Ohio.” The report released by Meyer’s office today, which focused on stimulus programs in central Ohio, outlined a few instances of ODJFS failing to oversee proper standards. In total, the department, which was put in charge of carrying out job training funds in Ohio from the stimulus package President Barack Obama signed into law in 2009, wrongly reimbursed companies it hired for $51,700.81. In central Ohio, ODJFS hired two organizations to carry out the job training program, or Workforce Investment Act: Associated Builders and Contractors, Inc. (ABC) and Construction Trades Networks (CTN). At ABC, the inspector general found limited problems with faulty reimbursements involving a newspaper subscription, travel and mileage totaling less than $100. The money was not accounted for as a questionable cost since it was so small. However, at CTN, the faulty reimbursements piled up. The organization was reimbursed $560.61 for phone calls made prior to being hired as part of the federal grant. It was also reimbursed $1,613.62 for its invoices, even though documentation was not provided to link phone calls as necessary to the grant program. Under the federal stimulus rules, CTN was required to provide 25 percent of its own funds for the program. CTN planned on using $91,800 of in-kind funds — payment that isn’t cash — by paying for trainee wages. The organization paid $60,927.70 by the end of the grant period, and the organization was reimbursed for $49,526.64 by ODJFS, even though the charges were supposed to be carried by CTN. The inspector general requested CTN give the money back to ODJFS. When the inspector general contacted the organization to explain the findings, CTN attributed the requests for faulty reimbursements to confusion caused by multiple administrative changes at ODJFS. “In addition, monitoring visits by ODJFS were not conducted until after the grant period expired, even though the partnerships were told the visits would occur as grant activities were underway,” the report said. Meyer’s office concluded ODJFS should review the questioned costs, work to keep consistent guidelines through administrative changes and monitor grant funds during the grant period. The full inspector general report can be found here. A report was released for northwestern Ohio was released on May 10, and it also found wrongdoing. It can be found here. A report for stimulus programs in southwestern Ohio will be released later.ODJFS could not be immediately provide comment on the report. This story will be updated if comments become available.UPDATE (3:28 P.M.): Benjamin Johnson, spokesperson for ODJFS, provided a comment shortly after this story was published.“As the report mentions, these were expenditures by local entities, not by the Ohio Department of Jobs and Family Services,” he says. “We appreciate the inspector general bringing this to our attention, and we'll work to resolve the matter.”
 
 

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