Northeast Ohio jobs picture continues to improve

Monday, May 21, 2012

Cleveland, Ohio—Employment in Northeast Ohio grew to more than 2 million workers in the first quarter of 2012, an increase of 9,000 jobs over Q1 2011 , including 2,000 jobs gained in the construction industry. according to the Cleveland Plus Economic Review report released today by Team NEO. This is the seventh consecutive quarter of year-over-year growth in the region.

In addition, the report found that with an unemployment rate of 8.3 percent, Northeast Ohio performed slightly better than the U.S. rate of 8.6 percent and on par with the state of Ohio. This represents a 1.4 percent decrease in the unemployment rate as compared with Q1 of 2011 when it was 9.7 percent.

Improvement also is projected for the 18-county Cleveland Plus region’s 2012 gross regional product (GRP), which is expected to exceed that of 2011, with an estimated increase of 2.1 percent and total GRP of more than $184 billion. The GRP grew approximately 1.1 percent in 2011.

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Team NEO advances Northeast Ohio’s economy by serving as the 18-county region’s private-sector economic development hub. It builds collaboration among the region’s economic development organizations, attracts new businesses from around the world and connects the region to the state’s JobsOhio program. Team NEO, which is independently governed, is important to advancing the Greater Cleveland Partnership’s mission. It has structural connections with the GCP and receives significant financial support from the GCP.

 

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