Ohio’s Economic Barometer

Here are some key economic indicators for the Buckeye State, taken from a variety of sources:

• Ohio’s unemployment rate as of March was 4.1%, but initial filings have expanded in recent weeks. (Here is Ohio’s county jobless rate ranking and county map.)
• There are nearly 260,000 job openings across Ohio, according to Ohio Means Jobs. More than 26,500 of those openings are tied to manufacturing.
• Ohio’s March labor force participation rate was 61.9%, compared to around 64% in mid-2019.
• As of Q4 2021, Ohio’s manufacturing GDP stood at more than $124 billion — another record high.
• As of March, there were roughly 677,200 manufacturing jobs statewide, compared to 664,200 a year earlier.
• The average weekly hours of production for Ohio manufacturing employees was 40.4 as of March, while the average hourly earnings for all Ohio manufacturing employees stood at $29.14.

The Back-to-Normal Index, compiled by Moody’s Analytics and CNN Business, shows Ohio’s economy at 96% of its pre-pandemic level. Only five states are at their pre-COVID-19 levels. 5/18/2022