Study: NE Ohio economy shows signs of improvement

Staff report

cleveland

The economy in Northeast Ohio showed signs of improvement in the second quarter of 2010, closely tracking the nation’s economic recovery, according to a report issued Monday by a regional development agency.

The study, released by Team Northeast Ohio, a Cleveland-based nonprofit that promotes business development and attraction, shows that the 16-county region saw employment gains in the second quarter of 2010.

Employment increased last quarter for the first time in two years, with gains in the manufacturing and service sectors, the report states.

The region has gained about 8,000 manufacturing jobs and 48,000 service jobs since January 2010, according to the study.

The average regional unemployment rate fell to 10.2 percent in the second quarter, down from 11.6 percent the previous quarter, according to the report.

The rate was lower than the state’s 10.4 percent unemployment average in the second quarter.