While there is some good news in the latest new unemployment claims in Ohio, Cleveland Economic Research Analyst George Zeller said at the rate new jobs are being created, it will take 111 years for Northeast Ohio to recover the jobs lost since 2000.
Zeller, a 1967 Salem High School graduate, uses the benchmark year of 2000 since his reports are designed to measure the point at which Ohio's lengthy 2000s recessionary labor market contraction concludes as a result of the end of job destruction.
Zeller said one county in the state recovered its jobs back to the pre-2007 recession level. That is Carroll County which is currently the oil and gas industry's Utica Shale play centerpiece, attracting millions of investment dollars.
His data tracks employment losses in Ohio because it is directly associated with payroll earnings losses and also cause declines in other measures of the business cycle, notably revenues generated by tax streams at various levels of government.You can read more by clicking here.
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