Ohio Unemployment Dips to 3.9% in May

COLUMBUS, Ohio – Ohio’s unemployment rate declined to 3.9% in May, down a tenth of a percentage point from April’s 4.0% rate, the Ohio Department of Job and Family Services reported Friday morning.

Nonagricultural wage and salary employment in the state increased 4,800 over the month, from a 5,474,700 in April to 5,479,500 last month.

The number of workers unemployed in Ohio in May was 226,000, down from 233,000 in April. The number of unemployed has decreased by 86,000 in the past 12 months from 312,000. The May unemployment rate for Ohio decreased from 5.4% in May 2021.
 
The U.S. unemployment rate for May 2022 was 3.6%, unchanged from April 2022 and down from 5.8% in May 2021.

The labor force participation rate in Ohio last month was 62.0%, up from 61.8% in April 2022 and up from 61.7% in May 2021. During the same period, the national labor force participation rate was 62.3%, up from 62.2% in April 2022 and up from 61.6% in May 2021.

Ohio’s nonagricultural wage and salary employment increased 4,800 over the month, from a revised 5,474,700 in April to 5,479,500 in May, according to the latest business establishment survey conducted by the U.S. Department of Labor.
 
Employment in goods-producing industries, at 922,200, decreased 5,400 over the month as losses in construction (-3,700) and manufacturing (-1,800) surpassed gains in mining and logging (+100).

The private service-providing sector, at 3,800,400, increased 7,000 as gains in leisure and hospitality (+4,700); educational and health services (+3,300); trade, transportation, and utilities (+1,700); information (+1,200); and other services (+1,000) exceeded losses in professional and business services (-4,900).

Financial activities was unchanged over the month. Government employment, at 756,900, increased 3,200 as gains in local (+2,000) and state (+1,400) government outpaced losses in federal government (-200).
 
Year over year, nonagricultural wage and salary employment in May increased 121,400. Employment in goods-producing industries increased 29,800. Manufacturing added 18,000 jobs in durable goods (+10,400) and nondurable goods (+7,600). Construction added 11,500 jobs while mining and logging gained 300.

Employment in the private service-providing sector increased 87,600 as gains in leisure and hospitality (+49,100); trade, transportation, and utilities (+26,300); other services (+9,000); professional and business services (+5,600); information (+4,900); and financial activities (+100) outweighed losses in educational and health services (-7,400).

Government employment increased 4,000 as gains in local government (+5,400) surpassed losses in state (-1,300) and federal (-100) government.

Copyright 2024 The Business Journal, Youngstown, Ohio.