Columbus, OH – The Buckeye Institute has provided an analysis of the latest jobs report from the Ohio Department of Job and Family Services, noting a rise in the state’s unemployment rate.
Rea S. Hederman Jr., head of the institute’s Economic Research Center, pointed out the uptick in unemployment from 4.7% to 4.8% in Ohio during March. This change mirrors a national increase from 4.1% to 4.2%. However, there was a small positive shift in the labor force participation rate, now at 62.6%, surpassing the national average.
The payroll survey brought better news, with 7,300 new jobs created in the private sector. Additionally, February’s strong job growth figures have been adjusted upwards, indicating the addition of 35,000 private-sector jobs in Ohio over the past two months.
Hederman commented on the broader implications of the report: “The March jobs report is the last report before tariffs and the potential expiration of the Trump tax cuts—leading to uncertainty for businesses. During periods of uncertainty, businesses are less likely to expand, invest, or take on more risk.” He emphasized the importance of pro-growth policies, suggesting that lawmakers should focus on reliable energy and low taxes to maintain economic stability.
