Ohio’s unemployment rate fell in October even as the state lost jobs in the month.
The rate fell to 9 percent from 9.1 percent in September, matching the national unemployment rate for two months in a row. Ohio’s unemployment rate a year ago was 9.7 percent.
Ohio also lost 600 jobs in October. The unemployment rate dropped because 8,000 Ohio residents fell out of the workforce, meaning they were no longer factored into the jobs numbers.
The number of people working in Ohio fell from 5,109,500 in September to 5,108,900 in October. But there were 63,100 more people working in Ohio last month than in October 2010.
The number of workers unemployed last month in Ohio totaled 526,000, down from 534,000 in September.
Jobs in goods-producing industries totaled 821,600, up 700 from September. Manufacturing added 1,100 jobs; mining and logging rose by 200; construction lost 600 jobs.
George Zeller, a Cleveland economic research analyst who studies jobs data, said the October numbers are contradictory and likely will be revised in upcoming months.
“Obviously, Ohio did not lose 600 jobs in September at the same time as the number of Ohio employed workers increased by zero and the number of unemployed Ohio workers decreased by 8,000,” Zeller said in a written note. “One or the other of the job estimates or the unemployment estimates are clearly in error.”
He called these latest monthly figures “mildly discouraging” for Ohio’s economy.
Zeller said it’s likely that current jobs figures will end up lower with upcoming revisions.
More high-paying manufacturing jobs are vital to speed up Ohio’s slowly recovering economy, he said.
Jim Mackinnon can be reached at 330-996-3544 or jmackinnon@thebeaconjournal.com
