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Unemployment increases in region
Comments 0 | Recommend 0COLUMBUS - Unemployment rates have increased across the region's nine counties and though Putnam County leads with an increase of 1.5 percentage points, the rest aren't far behind.
From May to June, Putnam County went from 4.7 percent to 6.2 percent unemployed. Roughly 1,100 people of the 18,400-person labor force are now without a job.
"There's no good answer, or any one factor, for the increase in unemployment in our region," said Marcel Wagner, president of the Allen Economic Development Group. "Unemployment rates are going up across the nation and this could be part of that trend."
The unemployment rate in Allen County jumped from 6.3 percent to 7.3 percent between May and June, much higher than the June 2007 rate of 6.5 percent. There are 48,900 employed and 3,900 unemployed in Allen County.
"It could just be a seasonal adjustment," Wagner said. "Schools let out in the summer and new graduates are all looking for jobs."
Like Allen County, Van Wert County has also seen a 1 percentage point increase, Logan County a 0.8 percentage point increase, and Hardin, Hancock and Mercer counties sharing unemployment rates with a 0.7 percentage point increase.
"We are definitely a regional economy," Wagner said, "so it makes sense that counties around Allen County are following in this same trend."
Shelby and Auglaize counties round out the nine counties, both with increases of 0.5 percentage points.
Wagner said unemployment rates in the region may improve during the fall season because more companies will be looking for seasonal Christmas help.
"Our economy is driven by business," he said, "so the only way this is going to improve is if companies start hiring. If they have the opportunity to do so, it would greatly help our economy if they would accelerate their plans to hire."
Wagner said numerous factors have contributed to the state of our economy, including the rising cost of fuel. He doesn't foresee a major decline in unemployment rates in the near future.
"Unless there is a significant turnaround, I think our economy will remain very conservative and very cautious."
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