Manufacturing has Fueled Cleveland’s Recent Economic Gains

The Federal Reserve Bank of Cleveland’s newly released Cleveland Metro Mix indicates that the city’s economy continues to improve. While employment grew slowly in 2018, the metro’s unemployment rate dropped steadily in the early part of 2019, landing at 4.3% in May. Manufacturers have played a key role in that improved statistic, with manufacturing employment growing 2.2% year-over-year as of December 2018. Moreover, manufacturing accounted for about one-third of the 7,728 net new jobs in the metro area between December 2017 and December 2018. 8/6/2019