The Buckeye Institute: Employment Falls in April, No Reason to be Alarmed Just Yet
May 19, 2017Columbus, OH - The Buckeye Institute’s lead economist Orphe Divounguy, Ph.D., commented on newly released unemployment data from the Ohio Department of Job and Family Services.
“According to the Current Employment Statistics Survey, April marks two consecutive months of employment losses. Although the private sector lost 3,800 jobs in April, private sector employment for the first four months of 2017 performed above expectations, creating only 500 fewer jobs than it did in the first four months of 2016.
“Employment in goods-producing industries fell in April but performed well over the past 12 months. This is something to keep a watchful eye on, since demand had been a concern for the US economy. Despite a tight labor market, wage growth continues to be slower than expected.
“The overall picture remains positive for the US economy. Workers are gaining more bargaining power and wages should increase as a result, and part-time workers are finding full-time jobs.
“The big story in Ohio continues to be public sector job losses. April marked five consecutive months of declining employment in the public sector, with both federal and state governments shedding jobs in April. Although, falling state government employment should come as no surprise since Ohio’s state tax collections have consistently failed to meet expectations.”
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