Ohio’s unemployment rate generally follows the U.S. trend, but since the beginning of 2001, Ohio’s rate (reported by the Bureau of Labor Statistics) has diverged notably from the national trend. Some analysts suggest that because Ohio depends relatively heavily on manufacturing for employment, a manufacturing slowdown should have a more direct impact on unemployment in Ohio than elsewhere. Indeed, a larger share of initial unemployment claims came from Ohio’s manufacturing sector than from the U.S. as a whole, but recent data do not suggest a drastic increase in claims for 2001. Claims have increased slightly in 2001, but the number of initial claims filed in Ohio does not seem substantially higher than in recent years.
Suggested citation: "Ohio Unemployment," Federal Reserve Bank of Cleveland, Economic Trends, no. 01-10, pp. 14-15, 10.01.2001.