June 24, 2014

Ohio Employment Growth: We’re Number 37

Filed under: Economy,Ohio Economy,Taxes & Government — Tom @ 11:58 am

On Friday, the government’s Bureau of Labor Statistics listed 31 states with “statistically significant” employment growth during the past 12 months.

Ohio was on the list, with 46,800 jobs added, constituting an increase of 0.89 percent during that period. That’s the lowest percentage payroll growth on the list.

Less than 1 percent growth in 12 months didn’t strike me as legitimately significant. Additionally, after crunching the numbers on the list, I found that the gap between Ohio and Pennsylvania, the state with the second-lowest job additions percentage of 1.09 percent, was quite large.

I thought that quite a few states not listed would have turned in performances between Ohio’s and Pennsylvania’s. I was correct, and even found a couple of states which beat out Pennsylvania. Having adjusted the rankings, Ohio comes in at number 37:

12monthStatePayrollGrowthToMay2014

There is good news. Ohio’s unemployment rate dropped to 5.5 percent in May.

Unfortunately, much of that drop occurred because, according to the BLS’s Household Survey, the state’s workforce fell by 14,300.

This is not how a labor market genuinely improves.

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1 Comment

  1. [...] Math is hard over at the Department of Labor, pretty much from top to bottom these days. Last Friday, the DOL listed what it says were the 31 states which showed “statistically significant” job growth in the 12 months ended in May. It turns out that six other states should have been on that list, dropping Ohio, which was the slowest-growing among those originally listed from number 31 to 37. [...]

    Pingback by BizzyBlog — June 27, 2014 @ 11:07 pm

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