Ohio Unemployment Dips to Record-Low 3.6%
COLUMBUS, Ohio – Ohio’s unemployment rate hit a new low in May, dropping to 3.6% for the month, the Ohio Department of Job and Family Services reported Friday morning.
Down from 3.7% in April, the May unemployment rate was the lowest rate since the series for reported unemployment started in 1976, according to a news release.
The number of workers unemployed in Ohio in May was 207,000, down from 211,000 in April, the state also reported. Nonagricultural wage and salary employment increased 6,600 over the month, from a revised 5,608,000 in April to 5,614,600 in May.
The number of unemployed has decreased by 16,000 in the past 12 months from 223,000. Year-over-year, the unemployment rate is down 0.3% from 3.9% in May 2022.
The U.S. unemployment rate for May 2023 was 3.7%, up from 3.4% in April 2023, and up from 3.6% in May 2022.
Employment in goods-producing industries, at 942,600, increased 500 as gains in construction outpaced losses in manufacturing, while mining and logging employment did not change over the month.
The private service-providing sector, at 3,901,700, increased 5,400 as gains in private educational and health services; trade, transportation and utilities; other services; and leisure and hospitality exceeded losses in professional and business services and financial activities. Information did not change over the month.
Government employment, at 770,300, increased 700 as gains in federal government outweighed losses in state and local government.
From May 2022 to May 2023, nonagricultural wage and salary employment increased 85,400. Employment in goods-producing industries increased 18,200. Manufacturing increased 9,300, with gains in durable goods and nondurable goods. Construction and mining and logging also reported gains.
Employment in the private service-providing sector increased 63,800 over the year as gains in private educational and health services; leisure and hospitality; other services; and financial activities surpassed losses in professional and business services; information; and trade, transportation and utilities. Government employment increased 3,400 as gains in federal and state government outpaced losses in local government.
Published by The Business Journal, Youngstown, Ohio.