Miami Valley jobless rates down in October

Unemployment rates fell across the Miami Valley last month but were still higher than they were at the same time last year, according to figures released Tuesday by the Ohio Department of Job and Family Services.

Montgomery County, the area’s most populous county, posted an October unemployment rate of 4.7 percent, down from 4.9 percent in September, but up from 4.5 percent in the same month a year ago.

The city of Dayton saw unemployment fall to 5.5 percent in October from 5.8 percent in September. But the city’s rate was up from 5.4 percent last year.

Miami and Greene counties both saw their jobless rates fall to 4.1 percent as hiring picked up steam. The rate in Miami County was down from 4.4 percent in September, while the rate in Greene County fell from 4.5 percent over the same period. Still, unemployment was even lower last year when both counties posted jobless rates of 3.9 percent in October.

While rates are slightly higher than last year in most other big cities and counties in the region, many economists say current unemployment levels reflect a tightening labor market and improved jobs outlook.

“Job seekers’ odds of finding employment are better in a tighter labor market, and in such a market employees are better able to bargain for wage increases,” according to a report authored by Mark Schweitzer, a senior vice president at the Federal Reserve Bank of Cleveland.

Statewide, unemployment rates fell in 75 counties, held steady in seven counties, and increased in six, according to the latest jobs numbers for Ohio. Unemployment rates ranged from a low of 3 percent in Mercer County to a high of 9.1 percent in Monroe County.

City and county rates are unadjusted for seasonal changes in hiring and, therefore, are not comparable to the state rate, which edged up last month to 4.9 percent — the same as the national rate — from 4.8 percent in September, the jobs department reported earlier this month.

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