OHIO — It appears more Ohioans are getting back to work, as state figures released on Friday indicate the state’s unemployment rate dropped in October while labor participation increased. 


What You Need To Know

  • Ohio’s unemployment rate dropped to 5.1% in October

  • Ohio’s labor participation rate increased in May to its highest level since May 2020

  • The largest gains in labor participation were in the hospitality and leisure industry

  • The industry has seen a reduction in its workforce coming out of the pandemic, forcing businesses to reduce hours and trim menus

The combination of a reduced unemployment rate and increased labor participation resulted in more Ohioans working in October than previous months. The labor participation rate is a figure that combines the number of people employed with those on unemployment who are seeking work. 

 

Ohio’s labor participation rate increased to 61.2 percent in October, marking the highest labor participation rate since May 2020, according to Ohio Department of Jobs and Family Services figures.

The announcement was especially positive for the hospitality industry, which has faced labor shortages coming out of the pandemic. According to state figures, the hospitality and leisure industry added 8,200 workers in October. 

All told, the state added 20,100 workers for the month, according to Jobs and Family Services. 

Although trends show increasing worker participation, the state’s workforce remains smaller than prior to the pandemic. According to the U.S. Bureau of Labor Statistics, workforce participation in March 2020 was 63.1 percent. According to U.S. data, there were 162,948 fewer Ohioans in the workforce in October 2021 compared to March 2020. There were also 165,147 fewer employed Ohioans, according to federal data.

Bureau of Labor Statistics data indicated that 7.9 percent of people who were not in the labor force but wanted to work were prevented from looking for a job because of the COVID-19 pandemic. At the height of the pandemic, 52.6 percent of Americans out of the workforce cited COVID-19.

 

Ohio's unemployment rate dropped to 5.1 percent, which is the lowest it has been since May 2021.