In an era of economic uncertainty, the U.S. job market remains resilient. After falling to 3.7% in November 2023, the national unemployment rate has been below 4% for 22 consecutive months, the longest streak in over 50 years.
Of course, if history is any guide, much of the economy is subject to boom and bust cycles — and the job market is no exception. Since the mid-1970s, the average annual unemployment rate in the U.S. has fluctuated between 3.6% and nearly 10%, according to the Bureau of Labor Statistics.
These same cyclical patterns are also evident in Ohio, where the job market is supported largely by the manufacturing and retail trade industries. The annual unemployment rate in the state was 4.0% in 2022, a multi-decade low. However, conditions for job seekers have not always been so favorable.
According to historical BLS data going back to 1976, the annual jobless rate has been as high as 12.7% in Ohio. More than once, unemployment in the state has either matched or come close to that peak.
This is how Ohio’s job market has changed in each of the last 47 years.
1976: 7.8% unemployment
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- Avg. unemployment rate: 7.8% (7.7% nationwide)
- Labor force participation rate: 61.5% (61.6% nationwide)
- Unemployed population in Ohio: 369,119
1977: 6.5% unemployment
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- Avg. unemployment rate: 6.5% (7.1% nationwide)
- Labor force participation rate: 61.8% (62.3% nationwide)
- Unemployed population in Ohio: 312,688
1978: 5.5% unemployment
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- Avg. unemployment rate: 5.5% (6.1% nationwide)
- Labor force participation rate: 62.8% (63.2% nationwide)
- Unemployed population in Ohio: 273,327
1979: 5.8% unemployment
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- Avg. unemployment rate: 5.8% (5.8% nationwide)
- Labor force participation rate: 63.6% (63.7% nationwide)
- Unemployed population in Ohio: 297,430
1980: 8.4% unemployment
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- Avg. unemployment rate: 8.4% (7.1% nationwide)
- Labor force participation rate: 63.4% (63.8% nationwide)
- Unemployed population in Ohio: 421,192
1981: 9.4% unemployment
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- Avg. unemployment rate: 9.4% (7.6% nationwide)
- Labor force participation rate: 63.7% (63.9% nationwide)
- Unemployed population in Ohio: 490,849
1982: 12.7% unemployment
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- Avg. unemployment rate: 12.7% (9.7% nationwide)
- Labor force participation rate: 63.7% (64.0% nationwide)
- Unemployed population in Ohio: 643,816
1983: 12.4% unemployment
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- Avg. unemployment rate: 12.4% (9.6% nationwide)
- Labor force participation rate: 63.6% (64.0% nationwide)
- Unemployed population in Ohio: 631,030
1984: 9.5% unemployment
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- Avg. unemployment rate: 9.5% (7.5% nationwide)
- Labor force participation rate: 63.5% (64.4% nationwide)
- Unemployed population in Ohio: 483,162
1985: 8.9% unemployment
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- Avg. unemployment rate: 8.9% (7.2% nationwide)
- Labor force participation rate: 63.7% (64.8% nationwide)
- Unemployed population in Ohio: 459,413
1986: 8.3% unemployment
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- Avg. unemployment rate: 8.3% (7.0% nationwide)
- Labor force participation rate: 64.4% (65.3% nationwide)
- Unemployed population in Ohio: 433,271
1987: 7.1% unemployment
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- Avg. unemployment rate: 7.1% (6.2% nationwide)
- Labor force participation rate: 64.5% (65.6% nationwide)
- Unemployed population in Ohio: 373,425
1988: 6.0% unemployment
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- Avg. unemployment rate: 6.0% (5.5% nationwide)
- Labor force participation rate: 64.7% (65.9% nationwide)
- Unemployed population in Ohio: 320,814
1989: 5.5% unemployment
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- Avg. unemployment rate: 5.5% (5.3% nationwide)
- Labor force participation rate: 65.5% (66.5% nationwide)
- Unemployed population in Ohio: 301,821
1990: 5.6% unemployment
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- Avg. unemployment rate: 5.6% (5.6% nationwide)
- Labor force participation rate: 65.7% (66.5% nationwide)
- Unemployed population in Ohio: 312,096
1991: 6.5% unemployment
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- Avg. unemployment rate: 6.5% (6.8% nationwide)
- Labor force participation rate: 65.3% (66.2% nationwide)
- Unemployed population in Ohio: 352,932
1992: 7.4% unemployment
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- Avg. unemployment rate: 7.4% (7.5% nationwide)
- Labor force participation rate: 65.9% (66.4% nationwide)
- Unemployed population in Ohio: 407,362
1993: 6.6% unemployment
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- Avg. unemployment rate: 6.6% (6.9% nationwide)
- Labor force participation rate: 65.6% (66.3% nationwide)
- Unemployed population in Ohio: 367,204
1994: 5.6% unemployment
Source: pawel.gaul / E+ via Getty Images
- Avg. unemployment rate: 5.6% (6.1% nationwide)
- Labor force participation rate: 66.0% (66.6% nationwide)
- Unemployed population in Ohio: 315,490
1995: 4.8% unemployment
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- Avg. unemployment rate: 4.8% (5.6% nationwide)
- Labor force participation rate: 66.1% (66.6% nationwide)
- Unemployed population in Ohio: 273,075
1996: 5.0% unemployment
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- Avg. unemployment rate: 5.0% (5.4% nationwide)
- Labor force participation rate: 66.4% (66.8% nationwide)
- Unemployed population in Ohio: 283,204
1997: 4.6% unemployment
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- Avg. unemployment rate: 4.6% (4.9% nationwide)
- Labor force participation rate: 66.9% (67.1% nationwide)
- Unemployed population in Ohio: 265,367
1998: 4.3% unemployment
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- Avg. unemployment rate: 4.3% (4.5% nationwide)
- Labor force participation rate: 66.6% (67.1% nationwide)
- Unemployed population in Ohio: 248,493
1999: 4.3% unemployment
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- Avg. unemployment rate: 4.3% (4.2% nationwide)
- Labor force participation rate: 67.0% (67.1% nationwide)
- Unemployed population in Ohio: 248,882
2000: 4.0% unemployment
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- Avg. unemployment rate: 4.0% (4.0% nationwide)
- Labor force participation rate: 67.0% (67.1% nationwide)
- Unemployed population in Ohio: 237,102
2001: 4.3% unemployment
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- Avg. unemployment rate: 4.3% (4.7% nationwide)
- Labor force participation rate: 67.2% (66.8% nationwide)
- Unemployed population in Ohio: 254,737
2002: 5.7% unemployment
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- Avg. unemployment rate: 5.7% (5.8% nationwide)
- Labor force participation rate: 66.9% (66.6% nationwide)
- Unemployed population in Ohio: 337,401
2003: 6.2% unemployment
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- Avg. unemployment rate: 6.2% (6.0% nationwide)
- Labor force participation rate: 67.0% (66.2% nationwide)
- Unemployed population in Ohio: 364,037
2004: 6.3% unemployment
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- Avg. unemployment rate: 6.3% (5.5% nationwide)
- Labor force participation rate: 66.6% (66.0% nationwide)
- Unemployed population in Ohio: 366,496
2005: 5.9% unemployment
Source: Ed Jackson / iStock via Getty Images
- Avg. unemployment rate: 5.9% (5.1% nationwide)
- Labor force participation rate: 66.7% (66.0% nationwide)
- Unemployed population in Ohio: 349,262
2006: 5.4% unemployment
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- Avg. unemployment rate: 5.4% (4.6% nationwide)
- Labor force participation rate: 67.2% (66.2% nationwide)
- Unemployed population in Ohio: 321,252
2007: 5.6% unemployment
Source: benedek / iStock via Getty Images
- Avg. unemployment rate: 5.6% (4.6% nationwide)
- Labor force participation rate: 67.6% (66.0% nationwide)
- Unemployed population in Ohio: 337,945
2008: 6.4% unemployment
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- Avg. unemployment rate: 6.4% (5.8% nationwide)
- Labor force participation rate: 67.2% (66.0% nationwide)
- Unemployed population in Ohio: 393,367
2009: 10.3% unemployment
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- Avg. unemployment rate: 10.3% (9.3% nationwide)
- Labor force participation rate: 65.9% (65.4% nationwide)
- Unemployed population in Ohio: 600,044
2010: 10.3% unemployment
Source: pawel.gaul / E+ via Getty Images
- Avg. unemployment rate: 10.3% (9.6% nationwide)
- Labor force participation rate: 65.5% (64.7% nationwide)
- Unemployed population in Ohio: 604,169
2011: 8.8% unemployment
Source: Oralleff / iStock via Getty Images
- Avg. unemployment rate: 8.8% (8.9% nationwide)
- Labor force participation rate: 64.2% (64.1% nationwide)
- Unemployed population in Ohio: 509,752
2012: 7.4% unemployment
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- Avg. unemployment rate: 7.4% (8.1% nationwide)
- Labor force participation rate: 63.3% (63.7% nationwide)
- Unemployed population in Ohio: 422,083
2013: 7.5% unemployment
Source: Ed Jackson / iStock via Getty Images
- Avg. unemployment rate: 7.5% (7.4% nationwide)
- Labor force participation rate: 63.0% (63.2% nationwide)
- Unemployed population in Ohio: 425,318
2014: 5.8% unemployment
Source: benedek / iStock Unreleased via Getty Images
- Avg. unemployment rate: 5.8% (6.2% nationwide)
- Labor force participation rate: 62.8% (62.9% nationwide)
- Unemployed population in Ohio: 331,389
2015: 4.9% unemployment
Source: benedek / iStock via Getty Images
- Avg. unemployment rate: 4.9% (5.3% nationwide)
- Labor force participation rate: 62.6% (62.7% nationwide)
- Unemployed population in Ohio: 282,926
2016: 5.0% unemployment
Source: StanRohrer / iStock via Getty Images
- Avg. unemployment rate: 5.0% (4.9% nationwide)
- Labor force participation rate: 62.8% (62.8% nationwide)
- Unemployed population in Ohio: 290,383
2017: 5.0% unemployment
Source: bryanakers / iStock via Getty Images
- Avg. unemployment rate: 5.0% (4.4% nationwide)
- Labor force participation rate: 63.0% (62.9% nationwide)
- Unemployed population in Ohio: 289,496
2018: 4.5% unemployment
Source: pawel.gaul / E+ via Getty Images
- Avg. unemployment rate: 4.5% (3.9% nationwide)
- Labor force participation rate: 62.8% (62.9% nationwide)
- Unemployed population in Ohio: 261,865
2019: 4.1% unemployment
Source: Oralleff / iStock via Getty Images
- Avg. unemployment rate: 4.1% (3.7% nationwide)
- Labor force participation rate: 63.2% (63.1% nationwide)
- Unemployed population in Ohio: 244,879
2020: 8.1% unemployment
Source: espiegle / iStock via Getty Images
- Avg. unemployment rate: 8.1% (8.1% nationwide)
- Labor force participation rate: 61.6% (61.7% nationwide)
- Unemployed population in Ohio: 473,768
2021: 5.1% unemployment
Source: Ed Jackson / iStock via Getty Images
- Avg. unemployment rate: 5.1% (5.3% nationwide)
- Labor force participation rate: 61.4% (61.7% nationwide)
- Unemployed population in Ohio: 293,954
2022: 4.0% unemployment
Source: benedek / iStock Unreleased via Getty Images
- Avg. unemployment rate: 4.0% (3.6% nationwide)
- Labor force participation rate: 61.5% (62.2% nationwide)
- Unemployed population in Ohio: 230,950
Source: 24/7 Wall St.
| Year | Ohio unemployment rate | U.S. unemployment rate | Unemployed population in Ohio |
|---|---|---|---|
| 1976 | 7.8 | 7.7 | 369,119 |
| 1977 | 6.5 | 7.1 | 312,688 |
| 1978 | 5.5 | 6.1 | 273,327 |
| 1979 | 5.8 | 5.8 | 297,430 |
| 1980 | 8.4 | 7.1 | 421,192 |
| 1981 | 9.4 | 7.6 | 490,849 |
| 1982 | 12.7 | 9.7 | 643,816 |
| 1983 | 12.4 | 9.6 | 631,030 |
| 1984 | 9.5 | 7.5 | 483,162 |
| 1985 | 8.9 | 7.2 | 459,413 |
| 1986 | 8.3 | 7.0 | 433,271 |
| 1987 | 7.1 | 6.2 | 373,425 |
| 1988 | 6.0 | 5.5 | 320,814 |
| 1989 | 5.5 | 5.3 | 301,821 |
| 1990 | 5.6 | 5.6 | 312,096 |
| 1991 | 6.5 | 6.8 | 352,932 |
| 1992 | 7.4 | 7.5 | 407,362 |
| 1993 | 6.6 | 6.9 | 367,204 |
| 1994 | 5.6 | 6.1 | 315,490 |
| 1995 | 4.8 | 5.6 | 273,075 |
| 1996 | 5.0 | 5.4 | 283,204 |
| 1997 | 4.6 | 4.9 | 265,367 |
| 1998 | 4.3 | 4.5 | 248,493 |
| 1999 | 4.3 | 4.2 | 248,882 |
| 2000 | 4.0 | 4.0 | 237,102 |
| 2001 | 4.3 | 4.7 | 254,737 |
| 2002 | 5.7 | 5.8 | 337,401 |
| 2003 | 6.2 | 6.0 | 364,037 |
| 2004 | 6.3 | 5.5 | 366,496 |
| 2005 | 5.9 | 5.1 | 349,262 |
| 2006 | 5.4 | 4.6 | 321,252 |
| 2007 | 5.6 | 4.6 | 337,945 |
| 2008 | 6.4 | 5.8 | 393,367 |
| 2009 | 10.3 | 9.3 | 600,044 |
| 2010 | 10.3 | 9.6 | 604,169 |
| 2011 | 8.8 | 8.9 | 509,752 |
| 2012 | 7.4 | 8.1 | 422,083 |
| 2013 | 7.5 | 7.4 | 425,318 |
| 2014 | 5.8 | 6.2 | 331,389 |
| 2015 | 4.9 | 5.3 | 282,926 |
| 2016 | 5.0 | 4.9 | 290,383 |
| 2017 | 5.0 | 4.4 | 289,496 |
| 2018 | 4.5 | 3.9 | 261,865 |
| 2019 | 4.1 | 3.7 | 244,879 |
| 2020 | 8.1 | 8.1 | 473,768 |
| 2021 | 5.1 | 5.3 | 293,954 |
| 2022 | 4.0 | 3.6 | 230,950 |
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