Ohio Unemployment Rate Decreases to 4.3% – Business Journal Daily



COLUMBUS, Ohio — The unemployment rate in the state was 4.3% in January, down from 4.5% in December, the Department of Job and Family Services reported Friday.

The state’s unemployment rate is down from 6% in January 2021. Nationally, the U.S. unemployment rate for January 2022 was 4%, up from 3.9% in December 2021 and down from 6.4% in January 2021.

Nonagricultural wage and salary employment increased 18,600 over the month to 5,421,600 from a revised 5,403,000 in December. Ohio had 246,000 workers unemployed in January, down from 256,000 in December, and down from 341,000 in January 2021.

In January, the labor force participation rate in Ohio was 61.5%, which is unchanged from December but up from 61.3% in January 2021. That compares to a national labor force participation rate of 62.2%, which is up from 61.9% in December 2021 and up from 61.4% in January 2021.

Employment in goods-producing industries was 918,200 in January, up 3,900 over the month as gains in construction (+2,800) and manufacturing (+1,200) surpassed losses in mining and logging (-100). The private service-providing sector, at 3,756,500, increased 9,300 with gains in trade, transportation, and utilities (+2,900); leisure and hospitality (+2,900); professional and business services (+2,000); financial activities (+1,100); information (+200); and educational and health services (+200). Other services did not change over the month. Government employment, at 746,900, increased 5,400 with gains in state (+3,300); local (+1,600); and federal (+500) government.

From January 2021 to January 2022, nonagricultural wage and salary employment increased 88,800. Employment in goods-producing industries increased 25,600. Manufacturing added 13,500 jobs in durable goods (+9,100) and nondurable goods (+4,400). Construction added 12,300 jobs while mining and logging employment decreased 200. Employment in the private service-providing sector increased 68,100 as gains in leisure and hospitality (+44,900); trade, transportation, and utilities (+16,400); professional and business services (+8,900); other services (+7,700); financial activities (+4,900); and information (+2,500) exceeded losses in educational and health services (-17,200). Government employment decreased 4,900 as losses in state government (-5,600) outweighed gains in local (+500) and federal (+200) government.

Published by The Business Journal, Youngstown, Ohio.





Source

Leave a Reply

Your email address will not be published.