Ohio's personal income grows
Average hourly wages, for example, were up nearly 3 percent from a year ago to $26.14, evidence of a tightening labor market that has forced competing employers to pay more to attract qualified job candidates.
“The top-line jobs number from the business survey is much lower than in recent months, with only 98,000 jobs created,” said Michael Hicks, an economics professor at Ball State University in Muncie, Ind. “In all other employment measures, this is a strong jobs report as evidence from a growing labor force, big declines in involuntary part-time work, a robust composition of industrial growth and shorter duration of unemployment.”
Ohio job growth in 2016 worst since 2009
In Ohio, the unemployment rate rose to 5.1 percent in February — the most recent month for which figures are available — from 5 percent in January. But the state added more than 15,000 jobs for the month.
Financial and commodities markets remained jittery, however, in the wake of President Donald Trump’s decision to bomb a Syrian air base in response to what the U.S. believes was Syrian President Bashar al-Assad’s chemical weapons attack on civilian rebels.
Oil prices spiked higher on concerns that an escalating conflict could spread throughout the oil-rich region, cutting off supplies. Crude oil prices hit $55 Friday morning, their highest price in a month, before sliding back closer to $54 a barrel later in the day.
Meanwhile, gold, foreign exchange and bond markets also showed increased volatility in response to the attack monthly U.S. employment figures.