Friday, March 04, 2005

 

Hmm . . . Ohio still hasn't released latest jobs numbers

As we mentioned last week, the Ohio Department of Jobs and Family Services announced a delay in the release of its monthly jobs and unemployment report.

The delay apparently continues. This is a little frustrating given that the national numbers were released this morning showing an increase in the unemployment rate (+.2%) but also the good news that there was an (seasonally adjusted) increase in the number of people working of 262,000.

Talking to some economists, we had predicted another drop in Ohio's unemployment rate and a substantial decrease in the number of working Ohioans. We still think that there will be a 6-digit non-seasonally adjusted drop in the number of employed Ohioans from January to February. We think it will be in the 100,000 - 150,000 range.

We also have to think there will be a seasonally adjusted net loss of 5,000-10,000 jobs, covering nearly all sectors except education (there is always some bounce in education following a month in which there was a long holiday break).

Thus, we think Ohio will continue to buck the national trend with increasing and substantial net job losses.

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