Ohio Unemployment rate decline - Pres. Hu's midwest visit the catalyst?

Ohio Unemployment rate decline - Pres. Hu's midwest visit the catalyst?

Columbus : OH : USA | Jan 23, 2011 at 12:45 PM PST
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Unemployment rate dips to 8.2 percent

Ohio Unemployment is based on unemployment.ohio.gov report that basically shows the decline of jobless rate in the state. It's a good news for Obama administration as President Obama delivers the anticipated State of the Union Address by Obama on Teusday.

Ohio unemployment of 9.6% was down for December, but slightly above the national average of 9.4%.

What are the factors the Ohio Unemployment decline?

It is reported that Ohio's manufacturing sector led the way in hiring in December, with the state's unemployment rate in December to 9.6 percent from 9.8 percent a month earlier in November. In 2010, Ohio's manufacturing job growth led the way, by adding 13,000 from November to December. Overall, unemployment fell to 567,000 from 580,000. For last year, job losses in financial activities fell by 10,000. It is noted that during the same period a year earlier, Ohio's unemployment rate was 10.8 percent.

Meanwhile, Chicago's mayor said the Chinese President Hu Jintao on Friday visit at a business expo in an effort to boost economic ties between the world's second-largest economy and companies in the Midwest especially in Chicago. AP reports, that Hu was apparently impressed.

"These businesses have injected fresh momentum into the American economy and created jobs here. The Chinese government will continue to encourage our companies to do business and make investments here," Hu said through a translator.

American people becomes aware of the notion that something was being done, despite the recession that swept the country. Plus the added boost from the recent visit of Chinese businesses could accelerate the state economy of Ohio.

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Spain's unemployment rate stands at over 20%
Spain's unemployment rate stands at over 20%
richwebnews is based in San Francisco, California, United States of America, and is an Anchor on Allvoices.
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