COLUMBUS, OH (June 25, 2024) – Ohio’s unemployment rate increased to 4.2% in May 2024, up from 4.0% in April, according to the Ohio Department of Job and Family Services (ODJFS). Despite this rise, nonagricultural wage and salary employment saw an increase of 21,200 jobs, climbing from 5,641,400 in April to 5,662,600 in May.
Unemployment and Employment Data:
The number of unemployed workers in Ohio rose to 243,000 in May, an increase from 230,000 in April. Over the past year, the number of unemployed has grown by 49,000, up from 194,000 in May 2023. Consequently, Ohio’s unemployment rate has risen by 0.9 percentage points from 3.3% in May 2023.
Nationally, the U.S. unemployment rate for May 2024 stood at 4.0%, a slight increase from 3.9% in April 2024 and 3.7% in May 2023.
Labor Force Participation Rates:
In May 2024, Ohio’s labor force participation rate was 61.9%, slightly up from 61.8% in April 2024, and unchanged from May 2023. Comparatively, the national labor force participation rate was 62.5% in May 2024, down from 62.7% in April 2024, and 62.6% in May 2023.
Industry-Specific Employment Changes:
According to the U.S. Department of Labor’s survey conducted in collaboration with ODJFS, Ohio’s nonagricultural wage and salary employment saw notable changes:
- Goods-producing industries increased by 6,200 jobs, driven by a 7,000 job gain in construction, while manufacturing lost 800 jobs.
- Private service-providing sector added 16,700 jobs with gains in private educational and health services (+6,300); professional and business services (+4,600); leisure and hospitality (+3,600); trade, transportation, and utilities (+2,100); and other services (+1,700). Financial activities experienced a loss of 1,600 jobs.
- Government employment decreased by 1,700 jobs, with local government losing 2,400 jobs, offsetting a 700-job gain in state government. Federal government employment remained unchanged.
Year-over-Year Employment Trends:
From May 2023 to May 2024, nonagricultural wage and salary employment in Ohio increased by 49,500 jobs:
- Goods-producing industries added 2,600 jobs, with construction leading the gains.
- Private service-providing sector saw an increase of 48,800 jobs, with significant contributions from private educational and health services (+39,500); leisure and hospitality (+8,800); other services (+7,600); and professional and business services (+5,600). However, financial activities (-9,500), information (-2,500), and trade, transportation, and utilities (-700) experienced declines.
- Government employment decreased by 1,900 jobs, despite federal government employment increasing by 2,200 jobs, as state and local government jobs fell by 3,100 and 1,000 respectively.
