Columbus is seeing strong employment gains and a low unemployment rate, says Cleveland Fed economist
The Columbus area’s year-over-year employment gains as of March 2016 were stronger in percentage terms than the employment gains experienced statewide or nationally, according to Guhan Venkatu, vice president and senior regional officer at the Federal Reserve Bank of Cleveland. “Additionally,” says Venkatu, “as of July, the area’s unemployment rate again reached 3.8 percent, the lowest reading recorded during this recovery.”
In the latest Columbus Metro Mix, Venkatu also notes that:
- home prices in the Columbus area have increased, on average, about 5 percent annually since the beginning of 2013
- the issuance of residential building permits remains fairly robust
- per capita consumer debt levels and credit card delinquency rates remain low and stable
If you’re interested in the region served by the Cleveland Fed—Ohio, eastern Kentucky, western Pennsylvania, and the northern panhandle of West Virginia—then you might also want to check out these recent Forefront articles:
Federal Reserve Bank of Cleveland
The Federal Reserve Bank of Cleveland is one of 12 regional Reserve Banks that along with the Board of Governors in Washington DC comprise the Federal Reserve System. Part of the US central bank, the Cleveland Fed participates in the formulation of our nation’s monetary policy, supervises banking organizations, provides payment and other services to financial institutions and to the US Treasury, and performs many activities that support Federal Reserve operations System-wide. In addition, the Bank supports the well-being of communities across the Fourth Federal Reserve District through a wide array of research, outreach, and educational activities.
The Cleveland Fed, with branches in Cincinnati and Pittsburgh, serves an area that comprises Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia.
Doug Campbell, email@example.com, 513.455.4479