Why unemployment claims are rising in Ohio

For the week of May 29, new unemployment claims in Ohio were 61.17% higher than in the previous week, amid high inflation and the threat of a recession, according to WalletHub’s updated rankings for the States Where Unemployment Claims Are Increasing the Most.

Here are the key takeaways from the rankings:

• Weekly unemployment claims in Ohio increased by 61.17% compared to the previous week. This was the second biggest increase in the U.S.
• Weekly unemployment claims in Ohio were 75.40% higher than in the same week last year. This was the fourth biggest increase in the U.S.
• Weekly unemployment claims in Ohio were 133.45% higher than in the same week pre-pandemic (2019). This was the biggest increase in the U.S.
• Unemployment Insurance Initial Claims per 100,000 People in Labor Force in Ohio: 288

What jobs are being impacted the most?

Analysts say construction, farming, fishing and forestry jobs are being hit the hardest across the U.S.

“Certain job types are still seeing higher levels of unemployment currently. For instance, construction jobs have very high unemployment numbers right now due to building activity slowdown, with higher interest rates lowering demand for new individual housing,” said Jill Gonzalez, WalletHub Analyst. “Farming, fishing, and forestry jobs are also seeing high unemployment, which has more to do with technological advances and less about the current economy or pandemic recovery.”

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