Location, Location, Labor: What We’re Learning from Small and Midsize Urban Manufacturers in Ohio
While locating in an urban area helps, many small and midsize manufacturers still struggle to find suitable employees. What other barriers do they face, and how can local leaders and service providers help? Find out.
Cleveland—Slow Improvement Continues
Economic conditions in the Cleveland metro area continue to improve. The unemployment rate fell 0.9 percentage points in the 12 months leading up to May 2018. Along with a drop in the unemployment rate, the Cleveland metro area is seeing median home values rise. Also, consumer debt per capita and the credit card delinquency rate remain at relatively low levels compared to the metro area’s recent past despite recent slight increases in both. Read more.
Cincinnati—Positive Conditions Continue
The Cincinnati region is seeing its lowest unemployment rates in nearly 17 years despite a rise of 0.1 percentage points in the metro area’s unemployment rate in April. And in the 12 months leading up to December 2017, employment in the area grew 1.4 percent, compared with 0.8 percent growth across Ohio. Per capita GDP grew roughly 2.5 percent in the Cincinnati metro area in 2016 after being adjusted for inflation; this gain was notably stronger than the gains registered in Ohio or the United States during the same period. Finally, while per capita consumer debt levels have drifted down slightly, credit card delinquency rates have drifted up slightly. Read more.
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