Ohio’s job market continues to cool.
The state’s unemployment rate rose again in March, while the labor participation rate remained steady, according to figures released by the state Department of Job and Family Services.
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The original number of jobs reported by the federal government in 2023 was revised down by a total of 749,000 jobs, meaning nearly one-fourth of jobs thought to be created in the year were not actually there, according to data from the Bureau of Labor Statistics (BLS) analyzed by the Daily Caller News Foundation.
The sum of the initial estimate from each of the government’s monthly job growth reports in 2023 totaled 3,140,000 new jobs, with later reports revising down the number of jobs added by a collective 443,000, according to the BLS. The BLS also announced in August a revision in total employment for March, subtracting another 306,000 jobs.
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Georgia’s unemployment rate continues to remain lower than the national rate.
On Thursday, officials said the Peach State’s June rate was 3.2%, the same as May’s revised rate and lower than the national average of 3.6%.
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The unemployment rate dropped in all of Tennessee’s 95 counties in April and each county now has an unemployment rate below 5%.
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Georgia ranked among the states with the highest number of workers quitting their jobs, even as state officials tout the lowest unemployment rate on record.
A new analysis from WalletHub found that The Peach State ranked fifth as the state with the highest resignation rate, with nearly 3.9% leaving their jobs over the past 12 months. Nationally, Alaska topped the list, ahead of Montana, Wyoming and Florida.
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Although Friday’s jobs report seemed like good news for a beleaguered economy and President Joe Biden, the report’s potential methodological issue as well as the economy’s negative growth indicate a recession is still on the horizon, according to an economist at The Heritage Foundation.
The U.S. Bureau of Labour Statistics’ job report for June, released on Friday, soothed some fears that the U.S. economy might be approaching a recession. However, negative GDP growth, rampant inflation and methodological issues within the report indicate that a recession is looming, according to E.J. Antoni, a research fellow for regional economics at The Heritage Foundation.
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