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This week on "The State of Ohio": The budget is on its way to a committee that will hammer out the differences before the end of the month deadline. But there are serious issues on both sides that could slow down the talks. A billion dollars is headed back to Ohio employers who paid into the states Bureau of Workers' Comp program. But a critic says the BWC has an outstanding bill that remains unpaid. And more on how Ohio's poorest people are surviving the rising costs of a basic existence.
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| Another sign of a possible recession - Ohio's jobless rate is on the rise. |
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By Bill Cohen - January 18, 2008 |
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There's new evidence today that Ohio's economy is sinking. Ohio's new official unemployment rate is 6%, up from November's rate of 5.6%. It's only the second time since the middle of 2005 that Ohio has had a jobless rate in the 6%range. 27,000 Ohioans have just been added to the category of the unemployed. That means the total number of job-seeking people without jobs is 361,000.
Jim Newton is the chief economic advisor to Commerce National Bank in Columbus. In an interview with Ohio Public Radio's Bill Cohen, Newton says he doesn't think the national economy is headed for a recession in the technical sense of the word that economists use, but he notes that Ohio's economy these days is worse
Newton says businesses make financial decisions mostly on their own assessment of the marketplace and the economy, not on "whether economists are shooting their mouths off or not." . |
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Bill Cohen reports (:55) 
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