Overall unemployment rate moved up to 3.9% with the biggest shift in Transportation & Utilities, which lost 7,300 roles, based on the most recently available information published in March 2022.
Total employment in the Cincinnati, OH-KY-IN market declined by 13,047 jobs in January and the unemployment rate increased compared to the prior month by 110 bps to 3.9%. The national unemployment rate increased by 74 bps over the same time to 4.4%.
- Cincinnati, OH-KY-IN unemployment rate is 53 bps below the national rate which is a positive sign.
- Unemployment in the market is 140 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 6.5% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -2.0%. Key sectors include:
- Transportation & Utilities: 226,200; -7,300
- Business Services: 169,200; -4,200
- Education & Healthcare: 163,300; -1,900
- Government: 124,800; -1,000
- Manufacturing: 115,200; -500
- Restaurants & Hotels: 103,800; -4,300
- Financial Services: 76,500; -300
- Construction, Mining: 48,700; -2,300
- Other Jobs: 37,400; no change
- IT & Development: 13,400; no change
Data is based on the most recent 12 months available, through January 2022 (Data published March 2022 and reports created on March 18, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.