In Ohio, the unemployment rate is currently lower than it was before the pandemic wreaked havoc on the economy.
However, the state now faces an employee shortage as many are withdrawing from their jobs and firms continue to plead for workers.
The year began with an unemployment rate of 4.3 percent from the previous 4.5 percent in December 2021.
In February 2020, just before the epidemic began, Ohio‘s unemployment rate was 4.6 percent.
Unemployment skyrocketed during the initial days of the virus, hitting 16.4% in April.
Since then, it has been progressively decreasing.
Workers have fallen out of the labor force, resulting in a low unemployment rate.
Following the epidemic, the state’s workforce shrank by 200,000, bringing the total number to 5.7 million.
The state managed to add 88,800 jobs in the previous year, but Ohio still requires around 180,000 jobs to return to the pre-pandemic levels.
Despite ample job opportunities, many Ohio employees are remaining on the sidelines.
Ben Ayers, senior economist at Nationwide said: “The job figures from January suggest that many workers in Ohio remain on the sidelines despite plentiful job openings and rising wages.
“Job growth in the state would likely improve if more workers reenter the workforce, as expected in 2022.”
Source: The Columbus Dispatch