Joblessness in Ohio drops from 10.8% to 10.1%

October 17, 2009 at 12:00a.m.

COLUMBUS — Ohio’s unemployment rate has dropped for the second straight month, though the state continued to lose jobs.

The Ohio Department of Job and Family Services said Friday that joblessness fell to 10.1 percent in September, from 10.8 percent in August.

Officials say the rate is declining because more job seekers are giving up and dropping out of the labor force. The number of workers unemployed in Ohio last month was 594,000, down from 641,000 in August.

First Niles Financial earnings, loans fall

NILES — First Niles Financial earned $103,000 in the third quarter, compared with $100,000 in the same quarter last year. Non-performing loans, those that are at least 90 days past due, totaled $2 million on Sept. 30, compared with $3.3 million on Dec. 31, 2008. First Niles is the holding company for Home Federal Savings and Loan Association of Niles.

Earnings at GE tumble

General Electric Co.’s troubled financial unit dragged down third-quarter earnings 44 percent, overshadowing gains in divisions that make power plant turbines and household appliances. The results from one of the world’s largest companies show the spotty strength of the global economy. While “signs of life” are emerging — consumers are still reeling from large numbers of defaults in credit cards and mortgages.

Staff/wire report

Associated Press