Wednesday, March 09, 2005

 

Jobs continue to slide in Ohio

The belated ODJFS's monthly report on Ohio's job situation was finally released, and as we had predicted, the seasonally adjusted number shows another sharp decline of 8,200 jobs.

Although seemingly contradictory, the report indicates that the unemployment rate (ODJFS uses different methods to measure jobs and unemployment rates) dropped to 5.9 % from 6.1% in December. To add to the confusion, ODJFS reports that this December rate of 6.1% was revised upward from 5.9%.

One way to interpret the conflict between the jobs numbers and the employment numbers is that more workers have stopped actively looking for jobs and are therefore no longer counted in the unemployment rates. In otherwords, only a fool would rejoice at the reduced unemployment numbers when the number of jobs took another steep dive. But count on the Republicans in Congress like Pollyanna Pryce to ignore the continued bad jobs news and focus on the unemployment rate.

Here's the jobs loss breakdown for January:
We hope to have the non-seasonally adjusted numbers later today or tomorrow.

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