Miami Valley Unemployment Declining Steadily, But So Is Labor Force
Monthly unemployment numbers have been released for the Miami Valley. WYSO’s Emily McCord caught up with economics reporter Lewis Wallace about some of the latest job trends—which range from low labor force participation to pizza.
The unemployment rate in February for the Dayton Metropolitan Statistical Area (MSA) was 6.9 percent, part of a continuing tick downward that aligns with trends in the state and country. The Dayton MSA is an area of about 840,000 people including Montgomery, Greene and Miami Counties.
But the numbers of people in the labor force in the Dayton MSA also declined—from 427,800 in February of 2003 to 389,400 in February of 2014. That means workers are either retiring, moving away or dropping out of the workforce (see chart above).
There have been a few job growth announcements in recent months, including a report from the Dayton Daily News in February that Caresource plans to add 200 jobs in the coming year, a Meijer dairy processing plant planned for Tipp City, a sizeable expansion of the Whirlpool company’s kitchen appliance plant in Greenville, and a slew of new restaurants opening up, with notable focus in recent months on the growing pizza industry.
Tom Maher with Manpower Dayton says projected hiring in the second quarter of 2014 will be focused in manufacturing, transportation and logistics, and leisure and hospitality.