Ohio Unemployment Rate Ticks Up in August, Reflecting Long-term Stagnation For Some
Unemployment numbers are out for August, and Ohio’s rate was right in line with the national rate of 7.3 percent. But while the U.S. unemployment rate went from above 8 percent in August 2012 to 7.3 percent in August 2013, the state numbers actually ticked up slightly from last month and last year.
Labor force participation has also gone down in Ohio, which has lost over 200,000 workers since 2007, and continued to see losses between August 2012 and August 2013. Low workforce participation can artificially push down unemployment rates, because those who stop looking for work are no longer counted among the unemployed.
The Economy & Business