Columbus, OH – Rea S. Hederman Jr., executive director of the Economic Research Center and vice president of policy at The Buckeye Institute, shared insights on the recent job market developments in Ohio. According to Hederman, the state's unemployment rate and labor force participation rate remained stable in February, with Ohio's figures slightly outperforming the national averages.
Hederman noted that while Ohio added 3,500 private-sector jobs in February, a comparison with the revised January data revealed a slower job growth trend than initially perceived. He emphasized the importance of policymakers focusing on creating an environment conducive to business growth to stimulate job creation and attract more workers to the state.
Highlighting the need for regulatory reform and the removal of barriers to innovation, Hederman urged lawmakers to prioritize initiatives that support entrepreneurs and foster business expansion in Ohio. Despite the low unemployment rate, the start of 2024 has been described as tepid, signaling a call to action for strategic economic policy planning in the state.