Special Report
How Ohio's Job Market Compared to the US Over the Last 47 Years
Published:
Of course, if history is any guide, much of the economy is subject to boom and bust cycles — and the job market is no exception. Since the mid-1970s, the average annual unemployment rate in the U.S. has fluctuated between 3.6% and nearly 10%, according to the Bureau of Labor Statistics.
These same cyclical patterns are also evident in Ohio, where the job market is supported largely by the manufacturing and retail trade industries. The annual unemployment rate in the state was 4.0% in 2022, a multi-decade low. However, conditions for job seekers have not always been so favorable.
According to historical BLS data going back to 1976, the annual jobless rate has been as high as 12.7% in Ohio. More than once, unemployment in the state has either matched or come close to that peak.
This is how Ohio’s job market has changed in each of the last 47 years.
Year | Ohio unemployment rate | U.S. unemployment rate | Unemployed population in Ohio |
---|---|---|---|
1976 | 7.8 | 7.7 | 369,119 |
1977 | 6.5 | 7.1 | 312,688 |
1978 | 5.5 | 6.1 | 273,327 |
1979 | 5.8 | 5.8 | 297,430 |
1980 | 8.4 | 7.1 | 421,192 |
1981 | 9.4 | 7.6 | 490,849 |
1982 | 12.7 | 9.7 | 643,816 |
1983 | 12.4 | 9.6 | 631,030 |
1984 | 9.5 | 7.5 | 483,162 |
1985 | 8.9 | 7.2 | 459,413 |
1986 | 8.3 | 7.0 | 433,271 |
1987 | 7.1 | 6.2 | 373,425 |
1988 | 6.0 | 5.5 | 320,814 |
1989 | 5.5 | 5.3 | 301,821 |
1990 | 5.6 | 5.6 | 312,096 |
1991 | 6.5 | 6.8 | 352,932 |
1992 | 7.4 | 7.5 | 407,362 |
1993 | 6.6 | 6.9 | 367,204 |
1994 | 5.6 | 6.1 | 315,490 |
1995 | 4.8 | 5.6 | 273,075 |
1996 | 5.0 | 5.4 | 283,204 |
1997 | 4.6 | 4.9 | 265,367 |
1998 | 4.3 | 4.5 | 248,493 |
1999 | 4.3 | 4.2 | 248,882 |
2000 | 4.0 | 4.0 | 237,102 |
2001 | 4.3 | 4.7 | 254,737 |
2002 | 5.7 | 5.8 | 337,401 |
2003 | 6.2 | 6.0 | 364,037 |
2004 | 6.3 | 5.5 | 366,496 |
2005 | 5.9 | 5.1 | 349,262 |
2006 | 5.4 | 4.6 | 321,252 |
2007 | 5.6 | 4.6 | 337,945 |
2008 | 6.4 | 5.8 | 393,367 |
2009 | 10.3 | 9.3 | 600,044 |
2010 | 10.3 | 9.6 | 604,169 |
2011 | 8.8 | 8.9 | 509,752 |
2012 | 7.4 | 8.1 | 422,083 |
2013 | 7.5 | 7.4 | 425,318 |
2014 | 5.8 | 6.2 | 331,389 |
2015 | 4.9 | 5.3 | 282,926 |
2016 | 5.0 | 4.9 | 290,383 |
2017 | 5.0 | 4.4 | 289,496 |
2018 | 4.5 | 3.9 | 261,865 |
2019 | 4.1 | 3.7 | 244,879 |
2020 | 8.1 | 8.1 | 473,768 |
2021 | 5.1 | 5.3 | 293,954 |
2022 | 4.0 | 3.6 | 230,950 |
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