Overall unemployment rate moved down to 3.8% with the biggest shift in Restaurants & Hotels, which gained 2,000 roles, based on the most recently available information published in April 2022.
Total employment in the Cincinnati, OH-KY-IN market rose by 4,784 jobs in February and the unemployment rate decreased compared to the prior month by 10 bps to 3.8%. The national unemployment rate decreased by 28 bps over the same time to 4.1%.
- Cincinnati, OH-KY-IN unemployment rate is 34 bps below the national rate which is a positive sign.
- Unemployment in the market is 120 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 5.6% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.2% . Key sectors include:
- Transportation & Utilities: 226,200; -400
- Business Services: 168,100; -800
- Education & Healthcare: 163,800; +100
- Government: 127,900; +600
- Manufacturing: 116,400; +600
- Restaurants & Hotels: 106,100; +2,000
- Financial Services: 76,100; -300
- Construction, Mining: 47,800; -200
- Other Jobs: 37,200; no change
- IT & Development: 13,500; +100
Data is based on the most recent 12 months available, through February 2022 (Data published April 2022 and reports created on April 6, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.