For the first time in nine months, Ohio’s unemployment rate went up last month. The news has the political spin machines working on high speed.
Ohio’s jobless rate was 5.7 in July, up from 5.5 in June. Ben Johnson with the Ohio Department of Job and Family Services says that’s not reason to think that means the state’s economy is failing:
“We don’t think that the overall trend has changed. We believe that the economy is slowly improving and will continue to slowly improve.
In July the unemployment rate in Ohio was steady at 7.2%, but rose to 8.5% in Kentucky. Dr. LaVaughn Henry, vice president and senior regional officer of the Cincinnati Branch of the Federal Reserve Bank of Cleveland, and Northern Kentucky University Professor of Economics, Dr. Gary Clayton, review and explain the latest employment numbers.
On the Money with Chris DeSimio welcomes Peter Sorrentino from Huntington Investment Advisors with his thoughts on last month’s employment figures and more investment news.