Ohio’s jobless rate dipped to an 18-year low in May even as job creation in the state has come to a halt.
The state’s unemployment rate fell to 4.1% last month, down from 4.2% in April and the lowest since the rate was 4.0% in June 2001, the Ohio Department of Job and Family Services said Friday.
The lower unemployment rate came even as the state lost 3,900 jobs in June. Total employment is down 8,800 jobs since January.
The state’s monthly unemployment report is made up of two surveys: one of households that is used to determine the unemployment rate and one of employers that shows how many jobs they added or lost. The surveys don’t always move in the same direction.
There were job losses in several sectors: 2,400 in private education and health care; 2,000 in construction; and 1,500 in finance.
Manufacturing added 2,400 jobs last month, the most of any sector. The leisure and hospitality sector added 1,200 jobs.
For the month of May, the number of unemployed workers fell by 8,000 to 239,000, the fewest since 2001. The number of unemployed workers has dropped by 25,000 over the past year.
The state has added 42,900 jobs over that period.