ECONOMY Youngstown-Warren indicators show overall drop of 0.5 percent

YOUNGSTOWN -- Economic indicators for the Youngstown-Warren area declined in September while nonfarm employment improved slightly compared to August.
A report by Ohio Job and Family Services showed that leading economic indicators for the Youngstown-Warren Metropolitan Statistical Area were down 0.5 percent. At the same time, nonfarm jobs were up by 2,000 or about 1 percent over the previous month while claims for unemployment compensation dropped by about 10 percent. The average weekly hours for manufacturing increased by 0.7 percent compared to August.
The monthly report, which monitors economic conditions in Ohio, also noted that the number of housing permits dropped 10.8 percent, including a 53.8 percent decline in multiple housing permits.
In Ohio, leading economic indicators also dropped by 0.5 percent comparing September to August. Both new claims for unemployment compensation and the valuation of new housing permits fell, while the average work week of manufacturing workers increased.
The report's comparison of indicators in the Mahoning Valley in September and a year ago showed the following:
*Leading economic indicators were up 0.3 percent.
*Nonfarm employment was down 1 percent.
*Total housing permits dropped 32.7 percent including a 90 percent drop in multiple unit permits.
*Average weekly hours for manufacturing increased by 9 percent.