Ohio’s Economic Barometer

Here are the most recent key economic indicators from a variety of sources:

• Ohio’s unemployment rate as of January was 4.3%, compared to 4% nationwide. (View jobless rates by county.)
• Ohio’s January labor force participation rate was 61.2%, compared to 64% in mid-2019.
• Ohio’s manufacturing GDP, as of Q3 2021, stood at more than $118 billion — a new record high.
• As of January, there were roughly 674,200 manufacturing jobs statewide, compared to 660,700 a year earlier.
• The average weekly hours for Ohio manufacturing employees was 40.9 as of January.
• The average hourly earnings of Ohio manufacturing production employees are $23.80 — and $29.24 for all Ohio manufacturing employees.

The Back-to-Normal Index, compiled by Moody’s Analytics and CNN Business, shows Ohio’s economy at 97% of its pre-pandemic level. But Opportunity Ohio, a conservative think tank, says federal data show Ohio significantly trails right-to-work states in economic recovery and job creation. 3/24/2022