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Economy

Ohio's Jobless Rate Falls for the Second Consecutive Month

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WKSU

The state’s jobless rate fell for the second straight month to its lowest level in a year. However, even those who think the state is on the right track economically are concerned about weakness in those numbers.

The unemployment rate for February was 4.5 percent, down two tenths of a point from January. Economist Andrew Kidd at the conservative think tank the Buckeye Institute says he’s pleased with the number of new jobs, but he says restrictions on occupational licenses and other laws and rules are holding back growth.

“When there are certain regulations in place and restrictions or burdens to finding jobs, people aren’t going to search and aren’t going to find the jobs they want.”

Ohio’s jobless rate is now much closer to the national rate of 4.1 percent, but the state’s job growth has been below the national average for 63 months.