Coming in the wake of such rosy, much-hyped hiring opportunities and a steady drop in the number of people applying for unemployment in these parts, this news is a bit of a let down, to say the least. According to the latest crunched numbers, the Cleveland area is actually behind other parts of the state in the adding new jobs.
But this bad news also has import on a national scale. It turns out Cleveland led the country in the percentage of lost jobs between December 2010 and December 2011. The only other metro areas that posted that sized hurt were Philadelphia and Indianapolis, according to this insightful albeit depressing break down in the Plain Dealer.
To bring this into regular-folk speak, this means that although we’ve added jobs in the region, including the silver bullet manufacturing jobs, the increase hasn’t done much to offset all the damage done.
Across Ohio, an increase in manufacturing has helped grow the economy in dramatic ways, Youngstown, Lima and Steubenville among the frontrunners in that category. In fact, almost every metro area in Ohio has seen some growth — except for Cleveland. The main reason we’re lagging behind? Although out fair metro spread has added manufacturing, we’ve also suffered pretty large-scale losses in the financial and insurance sectors.