Madison County workers have something more to be thankful for as the holiday season begins. The county’s unemployment rate fell to 3.4 percent in October, a slight drop from the 3.5 percent jobless rate in September.
The September rate was a full half percent drop compared to the 4 percent rate in August, according to the Ohio Department of Jobs and Family Services. This is the third consecutive month where the county’s jobless rate has fallen. The July rate was 4.2 percent, as was the rate in June.
Madison County’s jobless rate was the eighth lowest of Ohio’s 88 counties. The lowest jobless rate was Mercer County at 2.8 percent in October. The highest jobless rate in Ohio was in Monroe County in southeast Ohio at 7.1 percent.
The county’s October jobless rate was below both the state and national averages. Ohio’s unemployment rate was 5.1 percent in October, while it was 5.3 percent in September and 5.4 percent in August. Ohio’s nonagricultural wage and salary employment increased 4,300 over the month, from a revised 5,546,600 in September to 5,550,900 in October 2017.
The U.S. unemployment rate for October was 4.1 percent, down from 4.2 percent in September, and down from 4.8 percent in October, 2016.
Other counties near Madison County either saw slight drops in the jobless rate or stayed the same.
According to the report, the following are the central Ohio jobless numbers in October for counties surrounding Madison County: Union, 3.3 percent, down from 3.4 the previous month; Franklin, 3.8 percent, the same as September; Pickaway, 4 percent, a slight drop from 4.1 percent last month; Fayette, 3.8 percent, the same as September; Greene, 4.0 percent, the same as last month; Clark, 4.4 percent, the same as September; and Champaign, 3.8 percent, the same as September.
The number of workers unemployed in Ohio in October was 296,000, down 9,000 from 305,000 in September. The number of unemployed has increased by 11,000 in the past 12 months from 285,000. The October unemployment rate for Ohio increased from 5.0 percent in October 2016.
Total nonagricultural wage and salary employment (seasonally adjusted):
Ohio’s nonagricultural wage and salary employment increased 4,300 over the month, from a revised 5,546,600 in September to 5,550,900 in October 2017, according to the latest business establishment survey conducted by the U.S. Department of Labor (Bureau of Labor Statistics) in cooperation with Ohio Department of Jobs and Family Services.
Employment in goods-producing industries, at 915,200, increased 3,000 over the month as gains in manufacturing (+4,200) outweighed losses in construction (-1,100) and mining and logging (-100). The private service-providing sector, at 3,863,100, lost 2,000 jobs. Employment losses in educational and health services (-2,700), leisure and hospitality (-1,700), professional and business services (-1,300), financial activities (-1,200), and information (-400) surpassed gains in other services (+3,000) and trade, transportation, and utilities (+2,300). Government employment, at 772,600, increased 3,300 as gains in local government (+4,400) exceeded losses in state (-800) and federal (-300) government.
From October 2016 to October 2017, nonagricultural wage and salary employment grew 59,400. Employment in goods-producing industries increased 12,400. Construction added 9,600 jobs. Manufacturing employment increased 2,900 in nondurable goods (+2,800) and durable goods (+100). Mining and logging lost 100 jobs. The private service-providing sector added 48,800 jobs.
Reach General Manager/Editor Gary Brock at 937-556-5759.