Columbus MSA employment continues to outperform in August
We now have preliminary August sector employment totals, labor force, and unemployment estimates for the Columbus MSA, which I have seasonally adjusted. The news is better than that for either the U.S. or the state. The number of jobs in the region fell by 100 – literally a rounding error – compared to losses of 0.2 percent for the U.S. and 0.6 percent for Ohio. There was little change in individual sectors – except education and healthcare, which increased 1,200. As was the case for the Ohio unemployment rate, the seasonally adjusted Columbus MSA rate fell. The local rate is now 8.7 percent – a full point below the U.S. rate – versus 9.2 percent in July. This decline was partially driven by a decline in the labor force, as was the Ohio decline, but also by an increase in the number of employed Columbus MSA residents. Overall, once again, we don’t have really good news but things could be worse.