Tuesday, October 24, 2006

 

Why won't that "textbook economy" cooperate?

Eh, Deb?

Latest state jobs report from ODJFS:
Ohio's nonfarm wage and salary employment decreased 2,500 over the month, from 5,457,000 in August, to 5,454,500 in September.
In fairness, ODJFS also reportered that the unemployment rate dropped from 5.7% in August to 5.3% in September, however even this is not evidence of an upswing:
"The decline in unemployment was due primarily to individuals leaving the labor force and returning to school in September," said ODJFS Director Barbara Riley.
Here are the jobs numbers by sector:
Service-providing industries, at 4,403,100, were down 4,800 from August. The largest decline occurred in government (-3,800). Decreases also occurred in trade, transportation, and utilities ( 3,400), other services (-1,700), educational and health services (-700), and financial activities ( 300). Leisure and hospitality advanced 2,700 over the month. Professional and business services rose 1,800, while information added 600 jobs. Goods-producing industries rose 2,300 to 1,051,400. Gains occurred in manufacturing (+1,600), construction (+600), and natural resources and mining (+100).
The goods-production sector is still down 3,600 for the last 12 months including a net drop of 6,100 manufacturing jobs. More to the point, compared to the start of the recession in Ohio (2001), a net of 192,700 manufacturing jobs have been lost or 19.3%.

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