Economic indicators for area decline in November
1/5/2013The metro Toledo index of leading economic indicators fell in November from October to a reading of 86.4, according to the Ohio Department of Job and Family Services. The index was unchanged from November, 2011.
But one component of the index, housing permit values, increased, as did the total number of housing permits. The figures were released Wednesday.
For November, the value of housing permits in metro Toledo rose to $9.5 million from $8.7 million in October, an increase of 8.8 percent and an increase of 38.7 percent from the same period a year earlier.
The number of permits, which the state tracks but does not include as a component of the index, also rose in November to 47 from 42 in October, an increase of 11.9 percent.
Total seasonally adjusted nonfarm employment was unchanged at 300,600 jobs in November but was down 0.7 percent from a year ago.
Initial claims for unemployment compensation rose to 4,304 in November from 3,317 a month earlier, an increase of 29.8 percent.
But jobless benefits claims increased just 5.4 percent from a year earlier.
Metro Toledo average weekly hours for manufacturing rose to 42 in November from 41.7 in October, an increase of 0.7 percent for the month and of 1.7 percent from a year ago.
Statewide, the leading indicators index rose 0.1 percent in November to 92.3, suggesting weak employment growth.
The index is based on a value of 100 as of the year 2000.
Contact Jon Chavez at: jchavez@theblade.com or 419-724-6128.