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Ohio’s Economy Struggles to Create Jobs
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The Labor Department reports nearly 100,000 new jobs and increased wages across the country in the month of November.
The news is good around the nation, but economists say Ohio is still suffering.
WOSU’S Lauren Schmoll reports.
Ohio’s jobless rate is full percentage point or more above the national average. Economist Ken Mayland of Clearview Economics in suburban Cleveland says Ohio’s economy suffers in part owing to an older workforce and lack of new technology jobs.
“Ohio continues to lag the nation in terms of job creation,” Mayland said. “We have a mix of industry that is not performing as well as industry in other parts of the country.”
Mayland says the state’s tax structure also discourages job creation.
“Our taxes are higher, our electricity is higher, even our cost of rent is higher in our state versus other parts of the country,” Mayland said.
Mayland and other economists say the health of the job market is a key factor in supporting consumer spending and overall economic activity.