Regional Economic Outlook Is Promising

Nov 10, 2015

Credit Gerd Altmann / Via Pixabay.com

The local economy is looking good and unemployment is at the lowest level in more than a decade. That's according to Julie Heath with the U.C. Economics Center.

"The MSA unemployment rate, currently, is at 3.9 percent," says Heath. "That's the lowest it's been since 2002. Clearly (that) predates the last recession. That compares very favorably to a very low national number of five (percent) so we're doing very well in terms of unemployment in the region."

Heath says the healthcare sector alone will account for half of all new jobs between 22015 and 2020.

"We have some world class hospitals here... and all of the ancillary good and services that go with that," Heath says. "It's not just a hospital, it's not just a doctor, it's all of the support services - medical records industries, medical manufacturing - around healthcare."

She says the number of jobs has rebounded to pre-recession levels, but they're distributed differently now.

"We're back to pre-recession but the allocation is a little different, and more and more industries are feeling the recovery," Heath says. "I think that's really important."

Heath was speaking to a Tuesday luncheon hosted by the Cincinnati USA Regional Chamber and the Northern Kentucky Chamber of Commerce.