State unemployment rate drops again – Now 5.3%

Staff report and news release
news@wbcowqel.com

Ohio got a dose of good news on the labor front Friday when the Department of Jobs and Family Services released the latest jobless figures for October. The state’s unemployment rate continued its downward trend and dropped 0.4 from September to 5.3 percent.

The nationwide jobless rate also dropped, but not as much, by 0.1 to 5.8. Both figures are seasonally adjusted. Ohio’s nonfarm wage and salary employment increased 1,000 over the month. The number of unemployed went down by 14,000.

Total Nonagricultural Wage and Salary Employment (Seasonally Adjusted)
Ohio’s nonagricultural wage and salary employment increased 1,000 over the month, from a revised 5,306,300 in September to 5,307,300 in October, according to the latest business establishment survey conducted by the U.S. Department of Labor (Bureau of Labor Statistics) in cooperation with ODJFS.

Employment in goods-producing industries, at 874,400, decreased 3,900 from September due to losses in construction (-2,800) and manufacturing (-1,200). Mining and logging added 100 jobs over the month. The private service-providing sector, at 3,675,800, added 12,300 jobs mainly in leisure and hospitality (+9,600). Gains were also seen in professional and business services (+1,800), educational and health services (+1,100), financial activities (+1,000), and information (+100). Employment losses occurred in trade, transportation, and utilities (-700) and other services (-600). Government employment, at 757,100, decreased 7,400 with losses in state (-4,500), local
(-2,500), and federal (-400) levels.

From October 2013 to October 2014, nonagricultural wage and salary employment increased 37,600. Goods-producing industries added 13,500 jobs. Manufacturing added 13,700 jobs in durable goods (+12,400) and non-durable goods (+1,300). Mining and logging employment increased 800. Construction employment decreased 1,000. The private service-providing sector added 26,000 jobs over the year. Employment gains occurred in professional and business services (+12,500), educational and health services (+11,000), leisure and hospitality (+4,700), trade, transportation, and utilities (+1,800), and other services (+1,800). Employment declined in financial activities (-3,700) and information (-2,100). Government employment decreased 1,900 as job losses in local (-2,000) and federal (-500) government exceeded job gains in state government (+600).