Unemployment in NEO lower than the US
According to the latest report from TeamNEO, the unemployment rate for Northeast Ohio is at its lowest point (8.5%) since the heart of the recession in December 2008, and is lower than that of the United States (9.1%), and the unemployment rate continues to improve faster than the national average.
Employment in NEO rose by 1.25 in Q3 2011, and manufacturing jobs increased 3.7% over last year.
“The diversification in our manufacturing sector is helping to fuel the region’s gradual recovery from the 2007 recession and continues to play a prominent role in our economy,” said Tom Waltermire, CEO of Team NEO. “Manufacturing GRP accounts for more than 18% of output in Northeast Ohio compared with only 12% nationally, and in 2011, manufacturing accounted for 13% of all jobs in our region compared with 8.5% of all jobs in the U.S.”
Read the complete report here:
http://www.clevelandplusbusiness.com/News/2011/Q3-2011-Northeast-Ohio-Manufacturing-GRP.aspx