Employment in Ohio has reached record levels

COLUMBUS, Ohio – Ohio’s unemployment rate was 3.4% in August, the Ohio Department of Job and Families reported Friday.

The reading was up one-tenth of a percentage point from July’s reading of 3.3%, which was the lowest reading since 1976, when unemployment reports began. Ohio’s unemployment rate fell 0.3% in August from 3.7% in August 2022.

Ohio payrolls increased by 3,500 for the month from a revised 5,636,200 in July to 5,639,700 in August. This is the highest employment rate recorded since the series began in 1990.

The US unemployment rate was 3.8% in August 2023, down from 3.5% in July 2023 and 3.7% in August 2022.

The number of unemployed people in Ohio was 196,000 in August, compared with 194,000 in July, according to a state report. The number of unemployed decreased by 37,000 from 233,000 in 12 months.

Employment in goods manufacturing was 942,600, down 800 as losses in manufacturing outweighed gains in construction. Mining and logging remained unchanged. The private sector providing services was 3,915,500, up 4,600, as gains in other services, leisure and hospitality, professional and business services outweighed losses in trade, transportation and utilities; financial activity; and private educational and health services.

Government employment was 781,600, down 300, as losses in local governments outpaced gains in state and federal governments.

Compared to the same period last year, employment in the non-agricultural sector increased by 87,400 people in August. The number of people employed in commodity industries increased by 15,800. Manufacturing increased by 3,500 as gains in durable goods outpaced losses in durable goods. Construction added 11,600 jobs, while mining and logging added 700 jobs.

Employment in the private services sector increased by 60,900 as gains in private education and health services, leisure/hospitality and other services outweighed losses in professional and business services; trade, transport and public services; information; and financial activities. Public employment increased by 10,700 with gains in state and federal government, while local government was unchanged.

Published by The Business Journal, Youngstown, Ohio.