Columbus Region’s Unemployment Rate Continued to Decline in Q4 of 2014

Columbus, OH – Columbus Region unemployment rates fell to 4.0 percent in the fourth quarter of 2014, well below state and national rates of 4.8 and 5.6 percent, respectively, and comfortably below pre-recession levels. The data from One Columbus’s Q4 Economic Update released today showed the addition of 12,300 jobs since September—a 1.3 percent increase for the quarter and capping an overall increase of 0.8 percent in 2014.

The fourth-quarter performance marked an improvement over a somewhat sluggish third quarter and reflected strong rebounds for a number of key sectors. Government (up 2.6 percent), logistics (2.0 percent), leisure and hospitality (1.8 percent), healthcare and social assistance (1.6 percent) and professional and business services (0.9 percent) all recorded gains in Q4. The full report is available at Columbus Region Reports.

“The Columbus Region finished 2014 strong and is poised to have a strong economy in 2015,” said Kenny McDonald, chief economic officer, One Columbus.

Another encouraging indicator from the report was the Region’s continued increase in Per-Capita Personal Income (PCPI). Regional PCPI in 2013 was $43,662, an 8.7 percent increase since 2009 that far exceeded the 5.9 percent U.S. average. Columbus trails the U.S. average PCPI by 2.8 percent.

Other key findings from the Q4 economic update include: