Ohio Job Losses Worst Since Great Depression

[marmar]

from OurFuture.org:



Ohio Job Losses Worst Since Great Depression
By Charles McMillion

February 21st, 2008 - 3:45pm ET


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According to the U.S. Department of Labor, Ohio had 209,400 fewer nonfarm jobs in December 2007 than it had in December 2000. This loss of 3.7 percent of Ohio’s jobs is the worst seven-year loss in state records that begin in 1939 as the Great Depression was ending. (The details are in my special report.) The previous seven-year job loss record was the period ending in 2006 (3.6 percent of jobs lost) and before that the record was held for the period ending in 1962 when 3.4 percent of jobs were lost in the demobilization after the Korean War.

Nine of the state’s 13 metropolitan areas suffered recent job losses more severe even than Ohio’s statewide losses. Most devastated is the Springfield area, losing 10.0 percent of its jobs over the last seven years. The other areas with job losses worse than statewide include Canton (8.6 percent job loss), Dayton (7.6 percent), Mansfield (6.5 percent), Youngstown (6.3 percent), Lima (5.7 percent), Cleveland (5.5 percent), Toledo (5.0 percent) and Steubenville, Ohio–Weirton, W. Va. (3.8 percent).

Only three of Ohio’s metropolitan areas added jobs over the past three years and none of them even matched the 4.3 percent overall U.S. job growth, the weakest seven-year period since the mid-1940’s demobilization from World War II. The Akron area has the best recent record in Ohio, adding 4.1 percent to its job base since 2000. Jobs increased by 2.0 percent over the period in Cincinnati and by 1.7 percent in Columbus while declining by 2.7 percent in the Sandusky area.

The industrial composition of Ohio job losses and gains reflect recent record trade deficits and the explosion of household and federal debt stimulus. Over the past seven years Ohio lost 23.3 percent of its manufacturing jobs (236,000 jobs,) lost construction jobs, lost jobs in wholesale and retail, lost jobs in information services and even in financial activities. Recent job growth came in private health services bureaucracies (100,100 jobs), restaurants and bars (24,500 jobs), and in state and local governments (18,700 jobs), mostly for public education, health care and prisons. Since 2000, Ohio added just 2,500 jobs in firms providing professional, scientific and technical services.

That is, every industry that is capable of exporting and faces foreign imports or routine outsourcing lost jobs in Ohio over the past seven years. All new jobs are in domestic consumer services that rely on soaring levels of debt. ......(more)

The complete piece is at: http://www.ourfuture.org/blog-entry/out-work-ohio

[fasttense]

1. I understand that the unemployment rate was about 25%

during the Republican caused Great Depression. But they didn't keep numbers on unemployment back then so they really had no idea how many people were out of work.

Today, bush claims we only have a 5% unemployment rate and you can bet that like in the Republican caused Great Depression they really have no idea how many people are out of work. I will bet you, if you included the underemployed people, the rate would be closer to 25%.