Economy

A Soft Steel Market Takes Its Toll On Ohio Employment

Mar 3, 2015
Rona Proudfoot / Flickr Creative Commons

The United Steelworkers union is awaiting word this week on exactly how many hundreds of people will be at least temporarily laid off in Lorain. U.S. Steel plans to shut down its Lorain tubular operations and lay off as many as 600 workers next week. It’s a drastic change from three years ago, when it seemed like projections for making steel tube couldn’t go high enough.

Patrick Gallagher, whose United Steelworkers district covers all of northern Ohio, says a soft oil-drilling market, strong dollar and ongoing battle over imports has changed a lot.

Ohio Governor John Kaisch's fifth State of the State speech took place at the Roberts Center in Wilmington Tuesday.
Lewis Wallace / WYSO

Governor John Kasich gave his fifth State of the State address in Wilmington Tuesday night. Kasich’s speech was something of a pep rally for his proposed two-year budget. He says since he’s been in office, he’s balanced the budget and created a surplus of $1.5 billion—now he wants to increase that margin. He’s also pushing for more income tax cuts for individuals and businesses.

The Kmart store in Springfield has closed. As a result of the store's closure, 68 jobs will be lost.
Wayne Baker / WYSO

The state of Ohio released local job and unemployment numbers Tuesday, and the news is looking good for Dayton and the state. In December 2014, the statewide unemployment rate dipped to a seasonally adjusted 4.8 percent, the lowest it’s been since 2001. The greater Dayton area was down to 4.5 percent, almost two percentage points lower than it was at the end of 2013.

The fund that pays benefits to unemployed workers in Ohio is more than a billion dollars in debt to the federal government, but there may be a fix in the works.

Most states borrowed from the feds to pay jobless benefits during the recession. Zach Schiller at the think tank Policy Matters Ohio has been studying this for years, and recently put out another warning about it.

“While we’ve reduced it somewhat, the natural financing of the unemployment system is not going to be enough to repay that debt, much less build a new reserve for the next recession.”

Measuring Ohio’s Economic Changes Under Gov. John Kasich

Oct 31, 2014
Zack McCarthy / Flickr

Ohio Gov. John Kasich is running a relatively low-profile reelection campaign. He’s not debating on TV. Instead, he’s betting his record on the economy will bring in the votes he needs.

When making his case for reelection, Kasich will point to the big headline numbers in Ohio’s jobs story, as he did in an interview with Statehouse correspondent Karen Kasler.

Children's Defense Fund - Report Generator

An annual report from the Annie E. Casey Foundation and the Children’s Defense Fund Ohio finds that despite a perceived economic recovery, child poverty remains a serious issue in the state of Ohio.

Dawn Wallace-Pascoe is the Kids Count Project Manager with CDF Ohio.  She gave us an overview of the report and what it means for kids in Ohio.

Lewis Wallace / WYSO

A citizens’ group has gathered 1,700 signatures on a petition asking the Target store in Trotwood not to close. Target recently announced that its Trotwood and Middletown stores in the Dayton area are set to shut down May 3.

Trotwood city council member Bruce Kettelle compared the news from Target to a break-up.

(WYSO/Lewis Wallace)

Miami County is preparing for a major tour stop by UK folk stars Mumford and Sons this weekend. The city of Troy, population 25,000, is anticipating an influx of 40,000 people and at least $12 million in new revenues for the region.

By Wednesday, downtown Troy was already overrun with semi trucks, workers, and, believe it or not, mustaches. Inside Hittle’s Jewelry, owner Jenny Nimer showed off her display of mustachioed jewelry, complete with what she called “bling.”

Home sales in Ohio moved up for the 25th straight month and that’s seen by some as a positive indicator for the state’s economy.  

In July more than 13,ooo homes sold; a 25.8 percent increase over sales reported a year ago at that time, and July’s highest sales figures since 2005.

More good news for the Ohio economy: The state's per-capita income rose at one of the fastest rates in the nation last year.

That's according to an analysis by The Dayton Daily News, which says the statistic is a sign that the state's economy is recovering more quickly than that most of the country.

Per-capita personal income includes all earnings such as wages, dividends, interest income and rents. In Ohio, it rose by 1.7 percent to $39,289 between 2011 and 2012. That was a larger increase than all but two other states.

Pages