The workforce is the labor pool in employment and is made up of individuals that have differing skillsets and income potential (national average at $59,000 plus). We further know that the workforce and its potential directly impacts the economy of a region. Nationally we have an approximated 4.4% (not seasonally adjusted) unemployment rate with an aging group that has many challenges for emerging into today’s new workforce world. How does Ohio rank against the Nation and what makes up the workforce of Ohio to make its economy succeed?
Ohio is currently enjoying an unemployment rate of 5.4% (Dept. of Job and Family Services data). With a rate of unemployment ranging (per county) from a high of 12.1% to a low of 3.2%; and salary differential ranging from $110,000 to $42,000 in median household income. With this it is easy to see the differences in the state. Further these “differences” also point to the workforce perspective and needs as well by its regions. Understanding this, there is one exception: health care and its related fields which seem to be constant in all levels of each population center and a growing vocation (adding over 6000 new jobs in the last 6 years). Of Ohio’s 10 most in-demand jobs, 8 are directly related to the healthcare industry. With a steady growth in need and new employment potential, some fields that were not always prevalent, are now center to both workforce and economic success of the state which also is central to the increase for the individual in their household income.
Ohio has demonstrated an 8% increase in employment (2012-2018) in the chemical and related energy fields (again fields that pay well in the marketplace) as compared with the nation’s increase at the same time of only 2%. Ohio’s manufacturing base and traditional ability to build things are an identified strength within their emerging field with, resources of workforce ready workers trained in the pipeline for ready employment and knowledge for rebuilding skillsets within the current base. Ohio’s additive and reductive manufacturing practices through robotics and CNC (computer numerical control) industries have been a priority for the advancement of the state.
As such we know that Ohio has a very diverse population with a large range of demographics and a ranking in the nation similar in job potential. In-demand and emerging technologies (higher paying perspective employment); specifically as it applies to the healthcare field, is premium throughout the state and emerging technologies of petrochemicals and manufacturing are counted on for moving the state forward.