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Greater Cincinnati’s economy regained some of the jobs it lost in July, employing 5,200 additional people in August while the unemployment rate improved to 8.7 percent.
The local economy’s employment rose to 997,200 in August, a gain of 0.5 percent, according to newly released Ohio Department of Job and Family Services data. It came closer to returning to June levels, when the local economy employed just more than 1 million. But local jobs slumped by 8,000 in July. Those figures are not adjusted for seasonality. The local economy’s jobs rose by 12,300, or 1.2 percent, from a year ago.
Seasonal factors played a role in the improvement. Nonteaching employees’ return to local, state and private schools and colleges helped fuel the improved results, according to the state agency.
Greater Cincinnati added 900 jobs, or 0.1 percent, to 992,600 on a seasonally adjusted basis, according to state data. On an adjusted basis, July’s jobs were flat compared with June.
Greater Cincinnati’s nonseasonally adjusted unemployment rate fell from 9.2 percent in July to 8.7 percent in August, according to state data. It’s the lowest local rate since May. The local jobless rate improved from 9.4 percent a year ago.
The local jobless rate is now better than the state’s and nation’s rate. Ohio’s nonadjusted unemployment rate improved to 8.8 percent in August from 9.2 percent in July. The U.S. rate dropped to 9.1 percent from 9.3 percent in July. The state and U.S. rates each came in at 9.1 percent in August on a seasonally adjusted basis. The U.S. adjusted rate was flat compared with July while the Ohio rate improved 0.1 percent.
Service industries generated 5,000 jobs during the month. Government jobs rose by 2,900 while the educational and health services sector added 2,300 employees.
Manufacturing employment held steady after climbing by 5,100 in July.
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