(The Center Square) – After three months of record-setting reports, Ohio’s jobless numbers cooled in August.
The state’s unemployment figure rose from 3.3% in July to 3.4% in August, up slightly but still below the national average of 3.8%, according to numbers released by the Ohio Department of Job and Family Services. The labor force participation rate stayed at 62.1%.
“Despite this dip, Ohio’s job market remains strong. However, the Buckeye State needs more workers – workers with the skills that meet the needs of Ohio’s employers,” said Rea Hederman Jr., executive director of the Economic Research Center and vice president of policy at The Buckeye Institute. “As lawmakers return to Columbus for the fall legislative session, they should focus on comprehensive reforms to modernize Ohio’s economy and Ohio’s workforce.”
The report showed the state gained 3,800 private sector jobs, below July’s increase of 6,800, but did account for back-to-back months of growth after June declines.
August was the seventh consecutive month Ohio posted an unemployment rate below 4%, and the state has added more than 70,000 private-sector jobs this year.
Still, more can be done, according to The Buckeye Institute.
The policy group based in Columbus believes the state continues to fail to adjust policy to changing market conditions with outdated regulations, unclear rules and short-sighted tax policies.
The group believes the state should expand available high school skills training and courses to include more computer science. Also, it believes post-high school education funding should reflect outcome-driven metrics such as loan repayment rates, debt-to-earnings ratios, degree completion and post-graduation employment.
It also recommends Ohio should explore shifting funding toward worker retraining grants to empower prospective students to spend higher education funding how they see fit.
