We previously saw the same in Texas. These are the second and seventh largest states.WSJ: Ohio, a key economic bellwether for the 2016 elections, could be seeing trouble on the job front.
The Buckeye State’s unemployment rate rose to 5.1% in March, up from a postrecession low of 4.6% recorded last summer, the Labor Department said Friday. The rate has returned to its year-earlier level.
Emerging weakness doesn’t help the turnaround story touted by Gov. John Kasich, a Republican presidential candidate.
The state’s unemployment rate peaked at 11% in January 2010, and fell swiftly until last summer. But a slowdown in manufacturing and the energy industry appears to be causing the jobless rate to tick back up. Those same industries have been retrenching nationwide.
And this:
Industrial production decreased 0.6 percent in March for a second month in a row. For the first quarter as a whole, industrial production fell at an annual rate of 2.2 percent. A substantial portion of the overall decrease in March resulted from declines in the indexes for mining and utilities, which fell 2.9 percent and 1.2 percent, respectively; in addition, manufacturing output fell 0.3 percent.We are about to here more economists making the call.
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