Ohio Unemployment Rate Dips to 4.2% in February
COLUMBUS, Ohio — Ohio’s unemployment rate was 4.2% in February, down from 4.3% in January, the Department of Job and Family Services reported Friday.
The state’s unemployment rate is down from 5.8% in February 2021. Nationally, the U.S. unemployment rate for February 2022 was 3.8%, down from 4% in January 2022 and down from 6.2% in February 2021.
Ohio’s nonagricultural wage and salary employment increased 6,700 over the month to 5,439,400, up from a revised 5,432,700 in January. The state had 242,000 unemployed workers in February, down from 246,000 in January. The number of unemployed has decreased by 91,000 in the past 12 months from 333,000.
In February 2022, the labor force participation rate in Ohio was 61.5%, unchanged from 61.5% in January 2022 and up from 61.3% in February 2021. During the same period, the national labor force participation rate was 62.3%, up from 62.2% in January 2022 and up from 61.5% in February 2021.
Employment in goods-producing industries was 917,100 in February, down 3,500 over the month with losses in construction (-2,800) and manufacturing (-700). Mining and logging did not change over the month. The private service-providing sector, at 3,775,500, increased 10,400 as gains in professional and business services (+4,900); trade, transportation, and utilities (+2,700); educational and health services (+1,100); leisure and hospitality (+1,000); information (+800); and other services (+400) outpaced losses in financial activities (-500). Government employment, at 746,800, decreased 200 with losses in federal (-100) and state (-100) government. Local government employment did not change over the month.
From February 2021 to February 2022, nonagricultural wage and salary employment increased 103,200. Employment in goods-producing industries increased 26,700. Manufacturing added 12,100 jobs in durable goods (+8,200) and nondurable goods (+3,900). Construction added 14,500 jobs while mining and logging employment added 100 jobs. Employment in the private service-providing sector increased 80,600 as gains in leisure and hospitality (+42,100); trade, transportation, and utilities (+22,400); professional and business services (+15,100); other services (+7,300); financial activities (+3,400); and information (+3,300) surpassed losses in educational and health services (-13,000). Government employment decreased 4,100 as losses in state government (-6,000) exceeded gains in local government (+1,900). Federal government employment did not change over the year.
Published by The Business Journal, Youngstown, Ohio.