Buckeye Reporter

Rea S. Hederman Jr., executive director of the Economic Research Center and vice president of policy at The Buckeye Institute, shared insights on Ohio's job market following the release of a new jobs report by the Ohio Department of Job and Family Services.

"Ohio’s unemployment rate increased slightly in December, up from 4.3 percent to 4.4 percent, while the labor force participation rate remained unchanged at 62.6 percent," Hederman stated. He noted that despite not ending the year strongly, Ohio's job market is positioned well as 2025 begins. He pointed out that compared to national trends, Ohio's market showed some weakness after improvement signs in fall.

In December, employers added 6,300 private-sector jobs, with November revisions contributing an additional 800 jobs. This brought the total number of new private-sector jobs created in November and December to 11,000. Throughout 2024, Ohio's private sector saw an addition of 53,000 new jobs, indicating consistent growth.

Hederman emphasized the importance of legislative actions as lawmakers prepare for the next biennial budget. "They need to adopt policies that position Ohio to build on this job growth," he said. With new data centers and futuristic defense companies setting roots in Ohio, there are already proposals aiming to transform higher education for future workforce needs.

Additionally, Hederman stressed the necessity for improved energy policies to attract employers and ensure businesses have sufficient resources for growth and job creation. He also called for continued progress on tax reform as part of efforts to attract more employers and create jobs in Ohio.

"The 136th General Assembly must maintain and build on previous gains while addressing education and energy policies to ensure Ohio has bright days ahead," Hederman concluded.