Unemployment Claims Fall in Ohio, Rise Nationally
YOUNGSTOWN, Ohio – New unemployment claims filed in Ohio fell to 10,135 last week, according to the Ohio Department of Job and Family Services, a drop of about 3,000 from the previous week.
In its weekly report on jobless claims, the agency also said it receive 108,100 continued unemployment claims the week ended Sept. 25, a fall of 51,000 from the week before.
The eight-week average for new unemployment claims is 10,952 and, for continued claims, 135,975.
Ohio’s labor force participation rate is 60.8%, below the national rate of 61.7%. The Buckeye State’s unemployment rate is 5.4%, ahead of the country’s 5.2%.
Nationally, the number of unemployment claims filed fell to 362,000, marking the third straight week of increases.
Since topping 900,000 in early January, applications had fallen fairly steadily as the economy bounced back from last year’s shutdowns. But they’ve risen along with coronavirus infections.
The numbers, which are a proxy for layoffs, remain elevated: Before the pandemic hit the United States hard in March 2020, they were typically coming in at around 220,000 a week.
America’s employers have rapidly increased their hiring since they slashed 22 million jobs in March and April 2020 as the coronavirus outbreak — and the shutdowns meant to contain it — brought economic activity to a near-standstill. Since then, the economy has recovered about 17 million jobs as the rollout of vaccines encouraged businesses to open and expand hours and Americans to return to bars, restaurants and hotels.
But hiring, which has averaged more than 585,000 jobs a month this year, slowed to just 235,000 in August as the delta variant disrupted the recovery. Restaurants and bars cut nearly 42,000 jobs last month as COVID-19 cases picked up, the first drop this year. Hiring is expected to pick up to more than 560,000 this month; the Labor Department issues the September jobs report on Oct. 8.
Altogether, 2.8 million Americans were receiving some type of jobless aid the week of Sept. 18, down by 18,000 from the week before. Earlier this month, the federal government stopped additional aid — including $300 a week on top of traditional state benefits — that was meant to ease the economic impact of the pandemic.
The Associated Press contributed to this story.
Copyright 2022 The Business Journal, Youngstown, Ohio.