Ohio unemployment rate hits 4-year high despite job growth
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While other states' job markets are heating up, Ohio's is cooling, new data shows.
Why it matters: Ohio's unemployment rate climbed to its highest level in four years at a time when Americans feel almost as gloomy about the job market as they did during the Great Recession.
Zoom in: Ohio's unemployment ticked up from 4.9% in June to 5% in July, above the national rate of 4.2%, according to seasonally adjusted data from the Bureau of Labor Statistics.
- It's the first time Ohio's unemployment rate has hit 5% since July 2021.
Between the lines: The increase comes despite Ohio adding 5,400 net payroll jobs in the state in July, which is down from the 12,500 net payroll jobs added the prior month.
- Ohio has added more than 70,000 net payroll jobs since July 2024, but the unemployment rate has risen 0.7% during that period.
What they're saying: "A hiring slowdown, coupled with sticky inflation, [has] generated rising concerns about 'stagflation'— a combination of slower economic growth and higher prices," Molly Bryden, a researcher for progressive think tank Policy Matters Ohio, said in a recent press release.
- "Ohio lawmakers must consider ways to connect job seekers to good jobs with family-sustaining wages, especially as the costs of essential goods and services continue to soar."
The other side: In his March 2025 State of State address, Gov. Mike DeWine touted Ohio's job growth, including around 15,000 new jobs to be added through upcoming developments.
- DeWine has announced multiple projects since then, including a new manufacturing plant in Trumbull County and transportation investments across Northeast Ohio he said would support job growth.