Last week’s big news that a Chinese company will take over a large part of the old GM plant in Moraine is still reverberating throughout the Miami Valley. Officials say the automotive glass manufacturer, Fuyao, is expected to bring at least 800 jobs by 2017.
It’s the biggest job-creation win so far for Governor John Kasich’s semi-private economic development arm, JobsOhio.
The last week we’ve been revisiting the War on Poverty launched by President Lyndon Johnson in 1964. In fifty years, the poverty rate in the U.S. has been reduced from about 25 percent to 16 percent, but the discussion merely highlights how statistics are a matter of interpretation: Democrats supportive of federal policies aimed at reducing poverty tend to point to the numbers as a sign of success, while many Republicans point to the same numbers as proof of the policies’ failure.
Both Ohio senators voted Tuesday to move ahead with debate on a 3-month, $6.4 billion extension of emergency unemployment insurance. Around 40,000 Ohio residents saw their insurance cut off at the end of December after congressional Republicans left the program out of a last-minute budget deal, and another 128,000 stand to get cut off sometime in 2014.
The U.S. Congress is on its way to a budget deal a couple weeks ahead of the January 1, 2014 deadline, but the deal doesn’t include extending emergency unemployment benefits. That means around 40,000 Ohioans could see their payments end this month.
The nation's unemployment rate could fall below 7 percent nationally in under two years, according to an economic forecast developed in Cleveland. This also means interest rates will likely stay low for a while.