Valley unemployment takes big plummet

YOUNGSTOWN

The Mahoning Valley’s unemployment rate took what one economist calls an “almost unprecedented” decline when it went from 7.8 percent in November 2013 to 4.9 percent in November 2014.

“That is noteworthy,” said Ken Mayland, economist and president of Clearview Economics in Cleveland.

The not seasonally adjusted local unemployment numbers released by the Ohio Department of Job and Family Services show a decrease in unemployment by 7,800 from last November. The amount of employed increased by 2,900.

The civilian labor force went from 261,000 to 256,000 workers.

“The number of dropouts from the labor force is a

national phenomenon,” Mayland said.

Mayland said the increase in employment is partially because of the oil and gas exploration happening in and near the Valley and in the state. The industry feeds everything from manufacturing to transportation, he said.

“It has really had a pervasive impact on the economy,” he said. “It is enough to move the needle for the entire state.”

Ohio’s seasonally adjusted unemployment numbers released last Friday showed the state down to 5 percent.

Bert Cene, director of the Mahoning and Columbiana Training Association, has not seen low unemployment numbers like last month’s in years.

Read more about the decline in Wednesday's Vindicator or on Vindy.com.