Legislative Budget Office of the Legislative Service Commission
During September, a decrease in employment in construction (-1,700) and
manufacturing (-1,400) industries accounted for the decrease in workers in goods-producing
jobs. Over the month, employers added workers in the industries of leisure and hospitality
+2,400); trade, transportation, and utilities (+1,900); other services (+1,000); and financial
services (+800). The number of Ohioans employed in educational and health services (-1,000)
and professional and business services (-600) decreased during the month. Jobs were shed at all
levels of government in September.
Between September 2018 and September 2019, nonfarm wage and salary employment
was up by 23,100 (0.4%) in Ohio. Manufacturing employment increased by 1,800 year over
year, while construction employment was down by 7,600 jobs between September and a year
prior. Employment gains in the leisure and hospitality industry (+14,100) accounted for over
half of the total net job gains over the past year, while nonfarm employment in educational and
health services (+12,300) and professional and business services (+3,900) also increased
significantly. Employment by local governments in Ohio decreased by 2,500 during the same
Ohio’s economy grew by a seasonally adjusted 1.3% in the second quarter of 2019,
following growth of 2.3% in the first quarter. Though Ohio’s growth was slower than the
national average over the first half of the year, this state had the fastest growth in real GDP
among all states in the Great Lakes Census region during that period.22 Industries that were
significantly above the regional average in their contribution to real GDP growth in Ohio include
mining, quarrying, and oil and gas extraction; finance and insurance; and management of
companies and enterprises.
PCE by Ohioans increased by 4.1% between 2017 and 2018.23 In 2018, Ohioans spent an
average of $40,852 per capita on consumption of goods and services, including $6,351 per
capita on housing and utilities and $7,685 per capita on health care. Consumption growth in the
Great Lakes region was lowest in Ohio and Indiana (4.1%), and stronger in Michigan (4.4%),
Illinois (4.5%), and Wisconsin (4.9%). As compared to other census-defined regions, PCE growth
in the Great Lakes, at 4.4%, was quicker than in New England (4.2%) and on par with the Plains,
but slower than in all other regions.
Existing home sales in Ohio, as measured by units, were up 5.4% in September,
compared with a year prior. The average sale price of a residence was $198,351 in September
019, up 7.9% from $183,864 in September 2018. YTD in 2019, the total dollar volume of
existing home sales was around $22.8 billion, an increase of 6.7% over the dollar volume in
January through September 2018. Total unit sales YTD are essentially unchanged from last year,
up just 0.1%.
22 The Great Lakes region includes Ohio, Illinois, Indiana, Michigan, and Wisconsin.
23 PCE measures expenditure on goods and services purchased by households, as well as
spending by nonprofit institutions serving households.
24 According to Ohio Realtors.
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