Jobless data shows signs of area recovery
Ohio economist: We’re starting to do things we did before pandemic.
The unemployment rates increased in Clark and Champaign counties between December and January.
But, an Ohio economist said that new employment related data show signs of the local economy recovering amid the coronavirus pandemic.
The number of people employed or looking for work in Clark County was higher than what is typically seen during the two month period signaling a recovery.
The unemployment rate went from 4.8% to 5.8% in Clark County between those months and it went from 3.9% to 4.7% in Champaign County. The number of people employed in those counties went from 59,100 to 58,600 and 18,800 to 18,500 respectively.
The total number of people either fully or partly employed or looking for work, constituting a counties’ labor force, increased slightly in Clark County going from 62,100 to 62,200.
That number in Champaign County slightly decreased going from 19,600 to 19,400. This is according to data released on Tuesday by the Ohio Department of Job and Family Services.
In Clark County, the
unemployment rate had been under 5% since September when it was 7% before going down to 4.6%.
However, January’s numbers continue to show a recovery in the area as the economy continues to open up amid more coronavirus-related vaccinations.
In Clark County, the labor force went up by 100 when traditionally there is an expected decrease of 400 people between December and January, according to Bill LaFayette, an economist and owner of Regionomics, a Columbus-based economics and workforce consulting firm.
The number of people employed in the county was also higher than what is usually expected between
those months. Though there was a decrease of 500 people this year, traditionally there is usually a decrease of 900 people between December and January, LaFayette added.
He said typically there is always a decrease in the labor
force as well as the number of people employed between those months as people who had seasonal jobs related to the holidays tend to leave the workforce during that period.
But, this year’s numbers show that the economy is recovering amid the coronavirus pandemic.
“The economy is opening up and more of us are getting vaccinated. We are starting to do the things that we did before the pandemic hit,” LaFayette said.
The coronavirus pandemic had an immediate economic impact in the area causing the unemployment rate to increase rapidly between March and April of last year. The unemployment rate went from 6.1% to 17.3% between those months, according to updated data released by the OD JFS.
The unemployment rate has steadily decreased since then while slightly increasing between the months of November and December going from 4.5% to 4.8%.
Contact this reporter at 937-701-2336 or email hasan.karim@coxinc.com.