Ohio Unemployment Rate Holds Steady at 5.4%

COLUMBUS, Ohio – Ohio’s unemployment stayed level in August, holding at 5.4%.

Nationally, the unemployment rate was 5.2% in August, down from 5.4% the previous month and 8.4% in the same month a year ago.

The number of unemployed workers in August was 305,000, up from 300,000 a month prior. Year-over-year, the number of people unemployed has fallen by 218,000. 

The labor force participation rate was 60.8% last month, up slightly from July’s 60.5% and down from 62.7% in August 2020. The most recent figure for Ohio was below the national rate of 61.7%.

Total wage and salary employment dropped by 2,400 in Ohio last month, according to a business establishment survey conducted by the Ohio Department of Job and Family Services and the federal Bureau of Labor Statistics.

Employment in goods-producing industries rose by 400, as gains in manufacturing (+900) and logging (+100) overcame 600 job losses in the construction industry,

The private service sector saw employment fall 2,600 with 4,800 jobs cut in educational and health services, 1,600 in financial activities, 1,500 in leisure and hospitality, 900 in trade, transportation and utilities, and 700 in “other services.” Gains were seen in professional and business services (+6,300) and information (+600).

Government employment fell by 200, with state government falling 500 and local government rising 200. Federal employment in Ohio did not change.

Year-over-year, employment in Ohio has risen 113,500, led by gains in leisure and hospitality (+41,800), trade, transportation and utilities (+20,400) and professional and business services (19,900).

Copyright 2024 The Business Journal, Youngstown, Ohio.