Ohio lost 7,900 private sector jobs in February

Ohio received more bad news on Friday, which could compound lawmakers’ budget decisions.

Even though Ohio’s unemployment rate fell to 4.6 percent, down slightly from January’s rate of 4.7 percent, it still lags behind the national unemployment rate of 3.8 percent. While Ohio’s labor force participation rate grew from 62.4 percent to 62.6 percent, the state lost 7,900 private sector jobs in February.

“As Ohio’s policymakers begin their deliberations over the state’s budget, they would be wise to watch the conflicting trends in Ohio’s job numbers and avoid spending increases that could lead to deep and painful cuts if economic conditions take a negative turn,” Andrew J. Kidd, an economist with The Buckeye Institute’s Economic Research Center, said in a statement. “Tying state spending to inflation and population growth, and returning budget surpluses to taxpayers will keep Ohio on a sustainable path to prosperity.”