Ohio Still Years Away from Full Economic Recovery (Cleveland.com)
Ohio's economic recovery is inching along so slowly that, given the current rate of job creation, the state remains nearly five years away from regaining all of the jobs vanquished in the Great Recession.The news is grimmer for the state's most populous and productive county. Cuyahoga County, which lost 120,000 jobs last decade, is on track to achieve full recovery sometime in 2023.That's according to an analysis of employment trends by Chmura Economics & Analytics, an economic forecasting firm in Cleveland.
"We're recovering, but it's going to be a lot of years before we get back to where we were," said Daniel Meges, the economist who calculated the forecast using a decade of state and federal employment data.
Meges said he analyzed job figures back to 2003 to capture the employment picture when most communities reached peak employment last decade, as well as their job numbers at the recession's depths and the most recent figures reflecting the first quarter of 2013.
Provided by: Cleveland.com