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http://www.ourfuture.org/blog-entry/out-work-ohioOhio Job Losses Worst Since Great Depression
By Charles McMillion
February 21st, 2008 - 3:45pm ET
According to the U.S. Department of Labor, Ohio had 209,400 fewer nonfarm jobs in December 2007 than it had in December 2000. This loss of 3.7 percent of Ohio’s jobs is the worst seven-year loss in state records that begin in 1939 as the Great Depression was ending. (The details are in my special report.) The previous seven-year job loss record was the period ending in 2006 (3.6 percent of jobs lost) and before that the record was held for the period ending in 1962 when 3.4 percent of jobs were lost in the demobilization after the Korean War.
Nine of the state’s 13 metropolitan areas suffered recent job losses more severe even than Ohio’s statewide losses. Most devastated is the Springfield area, losing 10.0 percent of its jobs over the last seven years. The other areas with job losses worse than statewide include Canton (8.6 percent job loss), Dayton (7.6 percent), Mansfield (6.5 percent), Youngstown (6.3 percent), Lima (5.7 percent), Cleveland (5.5 percent), Toledo (5.0 percent) and Steubenville, Ohio–Weirton, W. Va. (3.8 percent).
Only three of Ohio’s metropolitan areas added jobs over the past three years and none of them even matched the 4.3 percent overall U.S. job growth, the weakest seven-year period since the mid-1940’s demobilization from World War II. The Akron area has the best recent record in Ohio, adding 4.1 percent to its job base since 2000. Jobs increased by 2.0 percent over the period in Cincinnati and by 1.7 percent in Columbus while declining by 2.7 percent in the Sandusky area.
The industrial composition of Ohio job losses and gains reflect recent record trade deficits and the explosion of household and federal debt stimulus.