Jobless rate in Ohio rises for 1st time in past year
Unemployment up slightly to 5.7% in July
8/16/2014COLUMBUS — Ohio’s jobless rate jumped for the first time in a year in July as the number of unemployed workers in the state rose and employers cut jobs, according to seasonally adjusted state figures released Friday.
The unemployment rate climbed to 5.7 percent in July, up from 5.5 percent in June and May. The 5.5 percent figure was a seven-year low.
A year ago, Ohio’s unemployment rate was 7.5 percent.
Friday’s state report showed that the number of unemployed rose by 7,000 last month to 323,000. Meanwhile, employers cut 12,400 jobs in July across a broad swath of industries.
The professional and business services sector cut 4,200 jobs, the educational and health services sector cut 3,700 jobs, manufacturing lost 2,900 jobs, and the leisure and hospitality sector had a loss of 2,900.
Ohio’s unemployment rate had been falling sharply since October, when the rate was 7.4 percent.
Despite the July report, the number of unemployed workers in Ohio has fallen by 110,000 over the past year.
The labor force has decreased by 55,000, to 5.715 million, over the last 12 months, according to state data. People drop out of the labor force when they retire, move away, or give up looking for work. Unemployment figures include only people who are actively seeking a job.
The state unemployment rate is below the U.S. rate of 6.2 percent in July. Michigan’s unemployment rate in July was 7.7 percent, up from 7.5 percent in June.
Over the past year, the state has added 24,400 nonfarm jobs.