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Kasich Statement on May Jobs Report

*UPDATE: Data from the U.S. Bureau of Labor Statistics shows Ohio was 3rd in the nation in new private sector jobs last month

COLUMBUS – Today Governor John R. Kasich issued the following statement in response to the U.S. Bureau of Labor Statistics May jobs report that shows Ohio created 20,100 new private sector jobs last month, bringing the total number of private sector jobs created in Ohio since Kasich took office to 520,500.

“Stabilizing Ohio’s finances, cutting taxes, streamlining regulations, improving our workforce and helping more Ohioans get healthy so they can work—these have all contributed to the jobs-friendly climate that continues to produce solid results for Ohioans.  I’m optimistic that it’s a model that will continue to work for Ohio for years to come and it’s a roadmap for the next generation of leaders in Ohio leaders and the country.”

OTHER RELEVANT ECONOMIC DATA:

JOB CREATION OUTPACING THE NATION

Since January, Ohio private sector jobs are growing 48% faster than the nation (1.23% to 0.83%). Since January 2011, Ohio has created 520,500 new private sector jobs.

Source: U.S Bureau of Labor Statistics, CES Survey

UNEMPLOYMENT CONTINUES TO IMPROVE

Since January 2011, Ohio’s unemployment rate has improved from 9.2% to 4.3% today – the best unemployment rate Ohio has experienced since 2001. Ohio’s average unemployment rate in the 20 years prior to the Kasich administration was 6.1%.

Source: U.S. Bureau of Labor Statistics; Household Survey

WAGES ARE GROWING FASTER THAN THE NATION

Since 2011, Ohio wages are growing 25% faster than the nation. Comparatively, regional price parities, considered a measure of cost-of-living, decreased – indicating dollars go farther here in Ohio compared to the rest of the nation.

Sources: U.S. Bureau of Labor Statistics, CES Survey, 20.7% to 16.6% - average weekly wages, CES Survey; US BEA, Regional Price Parities, June 2017

QUALITY JOB OPPORTUNITIES ABOUND IN OHIO

Currently on OhioMeansJobs.com, there are more than 150,000 jobs available in Ohio. About half of them provide a salary of at least $50,000/year.

Source: OhioMeansJobs.com

JOB RETENTION IS UP

Ohio job retention is at an all-time high. In 2017, Ohio set a record for the second year in a row for the fewest first-time jobless claims on record going back to 1971. Additionally, first-time jobless claims in 2017 were down 48% (down 369,537 claims) compared to 2010. So far in 2018, first-time jobless claims are even better than last year, trending more than 10% below last year’s pace.

Source: Ohio Department of Jobs & Family Services, Ohio LMI 

NEW BUSINESSES ARE BEING CREATED

Each year of the Kasich Administration, Ohio has seen a new record for new business entities. In 2017, 117,429 new businesses were created in Ohio, compared to just 80,273 in 2010 – a 46% increase. The most recent month on record was the best month for new business filings in state history, putting Ohio ahead of last year’s pace.

Source: Ohio Secretary of State