Ohio’s Unemployment Drops to 5% in February
COLUMBUS, Ohio – Statewide unemployment in February was 5%, the Ohio Department of Job and Family Services reports, down from 5.3% the month before. Year-over-year, unemployment last month was up from 4.7% in February 2020.
By comparison, the U.S. unemployment rate for February was 6.2%, down from 6.3% in January, and up from 3.5% in February 2020.
Ohio’s nonagricultural wage and salary employment decreased 8,400 over the month, from a revised 5,304,300 in January to 5,295,900 in February. From February 2020 to February 2021, nonagricultural wage and salary employment decreased 314,000.
Employment in goods-producing industries, at 889,400, decreased 600 over the month with losses in manufacturing (-300), mining and logging (-200), and construction (-100).
The private service-providing sector, at 3,661,700 in February, shed 8,000 jobs as losses in educational and health services (-12,700) and professional and business services (-1,400) outpaced gains in leisure and hospitality (4,300), trade, transportation and utilities (900), financial activities (400), other services (400) and information (100).
Government employment, at 744,800, increased 200 as gains in state government (400) exceeded losses in federal government (-200). Local government did not change over the month.
Over the past year, employment in goods-producing industries decreased 47,200. Manufacturing lost 36,600 jobs in durable goods (-34,300) and nondurable goods (-2,300). Construction lost 8,900 jobs and mining and logging employment decreased 1,700.
Employment in the private service-providing sector over the year decreased 216,600 as losses in leisure and hospitality (-89,600), educational and health services (-59,100), professional and business services (-36,800), other services (-22,800), information (-5,500), and trade, transportation, and utilities (-3,100) outweighed gains in financial activities (300). Government employment decreased 50,200 with losses in local (-30,700), state (-18,700), and federal (-800) government.
Copyright 2023 The Business Journal, Youngstown, Ohio.