Unemployment, labor force participation decline in May

Ohio saw its unemployment rate and labor force participation both decline last month, according to new state data.

The Buckeye State’s unemployment rate went from 3.9% in April to 3.7% in May, while the national unemployment rate remained at 4.3%. The state’s labor force participation rate also declines slightly from 61.9% in April to 61.8% in May, the Ohio Department of Job and Family Services said this week.

Rea S. Hederman Jr., executive director of the Economic Research Center and vice president of policy at The Buckeye Institute, said that the labor force participation rate’s gradual decline “remains a concern as unemployed workers leave the job market.”

Ohio also lost 3,100 private-sector jobs last month, which Hederman said is “worrying” and “hurting the job prospects of the Ohioans, particularly those graduating from high school and college. Many of those job losses came in the transportation sector, reflecting the impact higher gas prices have had on the economy.”

Hederman recommends cutting government spending and letting taxpayers keep more of their hard-earned money.

“Although Ohio’s job market is performing better than the national average, policymakers need to cut government spending to sustain economic growth and put more money in the pockets of Ohioans,” he said. “Lawmakers must also adopt policies that will keep working-age Ohioans attached to the job market, such as the recently passed Medicaid and SNAP reform bill, which will not only reduce fraud but also incentivize work when combined with the work and community engagement requirements.”

Senate Bill 315 passed both chambers and heads to Republican Gov. Mike DeWine to be signed into law. The legislation would require the state’s SNAP program to use chip-enabled EBT cards to enhance cybersecurity, as well as put in place anti-fraud reforms in response to rampant Medicaid fraud.