Greater Cincinnati’s wages continue to rise

Greater Cincinnati’s jobless rate dropped to 3.5 percent in April. That’s the lowest local rate since May 2001, when it stood at 3.4 percent. Average weekly pay for Greater Cincinnati workers shot up 2.7 percent in April alone, according to newly released figures from the Ohio Department of Job and Family Services. Compare that to the pay raise of 4.8 percent over the entire year of 2017, and things are looking good for Cincinnati’s workforce.
 

“We’re seeing wage increases not across the board, but in certain areas with high demand, such as health care and IT (tech) jobs,” Janet Harrah, senior director of Northern Kentucky University’s Center for Economic Analysis and Development, told the Cincinnati Business Courier.

She said economists typically consider a region to have reached “full employment” – meaning if you’re looking for a job you can probably find one – if the unemployment rate falls to 4 percent. The local market is well below that line.

“It’s a buyer’s market,” Harrah said. “There are lots of jobs and not a lot of people to fill them. If you’re looking for a job, now is the time to try to find one.”

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