Ohio’s economy posted another record low unemployment rate in July while breaking another mark that has stood for 23 years.
The unemployment rate fell to 3.3% last month, breaking the mark for the lowest unemployment rate in data going back to 1976, the Ohio Department of Job and Family Services reported Friday.
It was the fourth straight record low since the state tied the old record low of 3.8% in March, and six months in a row that the state’s rate has been below 4%. The rate was 3.4% in June.
The state’s unemplolyment rate peaked at 16.4% in April 2020 when the economy was largely shut down during the early days of the pandemic.
Ohio was one 11 states that set record low unemployment rates in July, according to the Bureau of Labor Statistics. Ohio’s rate remains below the U.S. rate, which was 3.5% in July.
New Hampshire had the lowest rate in the country in July at 1.7%.
Meanwhile, employers added 12,100 jobs in the month, pushing total employment up to 5,639,200, breaking a record set in May 2000. Ohio now has added a robust 89,200 jobs over the past year.
The job gains last month were led by the private education and health care sector that added 8,300 jobs. Government employment grew by 5,300, led by a gain of 3,000 local government jobs and 2,100 state government jobs.
The construction sector added 3,400 jobs.
The finance sector cut 1,600 jobs and the trade, transportation and utilities sector lost 1,200 jobs.
mawilliams@dispatch.com
@BizMarkWilliams
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