Every three months TEAM NEO collects state and federal employment figures to compile a customized picture of the 16-county Northeast Ohio region. Its latest report offers an optimistic outlook that hasn't been evident in several years, says CEO Tom Waltermire, beginning with an increase of nearly 40,000 jobs in this year's first quarter over the same period a year ago.
It's a large number on the surface, but one he says is also important, because it anchors a trend.
TOM WALTERMIRE:
"Spring of 2010 was the first time we started to see employment gains compared to the prior year and that has now continued for four consecutive quarters."
Waltermire also says those first quarter results show an strong uptick in manufacturing output. While the U-S rate of manufacturing increased by 3.3%, Northeast Ohio's output is up 5.5% over the same time last year, with 59 hundred new manufacturing workers added.
WALTERMIRE:
"Our manufacturing base is outperforming the national average. And that's a very significant development for the long term here."
Waltermire adds that while the overall unemployment rate in the region remains high, it's less than the national average, and is improving at a faster rate than many major metro areas around the country.
