Columbus Economy April 2022

Columbus economy April 2022

For the Columbus economy April 2022 report, we look at how the situation has continued to improve from the pandemic-related crash of 2020. High inflation rates had yet to affect things like hiring, which remained strong. Let’s break it down.

Overall Metro Area April 2022 and Change from April 2021
Labor Force: 1,120,035 +13,475
Employed: 1,087,123 +37,439
Unemployed: 32,912 -23,964
Unemployment Rate: 2.9% -2.2
Total Non-Farm Jobs: 1,111,100 +25,100

The 2.9% April unemployment rate for the Columbus metro was the lowest rate since May 2001, and only a few tenths of a percent off the lowest since at least 1990.

Overall Metro Area April 2022 and Change from February 2020 (Pre-Pandemic)
Labor Force: 1,120,035 -769
Employed: 1,087,123 +10,283
Unemployed: 32,912 -11,052
Unemployment Rate: 2.9% -1.0
Total Non-Farm Jobs: 1,111,100 -300
The metro area overall is just about where it was pre-pandemic, though more people are employed now than at that time.



Now let’s view the results by industry.

Mining/Logging/Construction
4/2020———–4/2021———-4/2022

40,300————44,800———45,900
This industry has been recovering nicely from pandemic lows, and should hit all-time highs over the summer.

Manufacturing
4/2020———–4/2021———-4/2022

63,400———–71,800———-72,800
Manufacturing has nearly fully recovered to pre-pandemic levels.

Trade/Transportation/Utilities
4/2020———–4/2021———-4/2022

190,200———-220,200———235,800
This industry completely recovered and consistently hitting record highs.

Information
4/2020———–4/2021———-4/2022

15,400———–15,400———-16,600
Information has fully recovered to pre-pandemic levels, but only just. This industry has been fairly stagnant, if not in decline, since 2001.

Financial Activities
4/2020———–4/2021———-4/2022

83,700———–85,200———-82,900
Unlike other industries, financial activities did not drop significantly during the crash. It did fully recover all lost jobs, but is now sliding down further than during the pandemic. It’s unclear why.

Professional and Business Services
4/2020———–4/2021———-4/2022
162,900———-177,800———178,600
This industry did recover most pandemic losses, but plateaued in 2016 and has been unable to do much since then.

Education and Health Services
4/2020———–4/2021———-4/2022

142,100———-159,600———157,900
Hit extremely hard during the pandemic, the industries of health and education have not yet been able to fully recover. Healthcare in particular is having an extremely difficult time finding workers, and is losing people to burnout.

Leisure and Hospitality
4/2020———–4/2021———-4/2022
56,100———-93,100———-101,500
This industry was arguably hit the hardest of any during the pandemic crash. These jobs fell by nearly 50%. They’ve made a strong comeback, but not quite yet to pre-pandemic levels.

Other Services
4/2020———–4/2021———-4/2022

29,600———–39,400———-41,500
This industry is on track for full recovery by late summer.

Government
4/2020———–4/2021———-4/2022

178,400———-178,700———177,600
While the fall during the pandemic was not as dramatic as other types of jobs, government jobs have largely stagnated since the crash well below their pre-pandemic levels. It’s unclear if its local level or state and federal level jobs that have not returned.

All said, the metro area has just about fully recovered from pandemic effects- and is doing better now than before in some respects- but some industries continue to lag behind. Inflation and energy prices are hitting people hard, and that is not just true in the United States. Nearly all nations are seeing similar effects, and the longer these global conditions last, the more likely it is that it harms the upward movement of the economy.

The Bureau of Labor Statistics, the source of this data, is useful for local employment data for any metro area in the United States.

Columbus Economy February 2022

Columbus economy February 2022

The Columbus economy in February 2022 continued its slow recovery from the Covid pandemic crash of 2020. Let’s break it down.

Overall Metro Area February 2022 and Change from February 2021
Labor Force: 1,126,967 +9,435
Employed: 1,085,393 +27,948
Unemployed: 41,574 -18,513
Unemployment Rate: 3.7% -1.7
Total Non-Farm Jobs: 1,102,000 +25,400

Overall Metro Area February 2022 and Change from February 2020 (Pre-Pandemic)
Labor Force: 1,126,967 +10,719
Employed: 1,085,393 +13,820
Unemployed: 41,574 -3,101
Unemployment Rate: 3.7% -0.3
Total Non-Farm Jobs: 1,102,000 -9,400
In most categories, the metro area overall has fully recovered to levels just before the pandemic crash- and has improved upon most metrics. Non-farm jobs is the only area that has not yet fully recovered.

Now let’s view the results by industry.

Mining/Logging/Construction
2/2020———–2/2021———-2/2022

42,500————41,000———44,400
The construction industry (Columbus doesn’t have a significant mining or logging industry) has surpassed pre-Covid levels.

Manufacturing
2/2020———–2/2021———-2/2022

73,000———–71,700———-72,600
Manufacturing hasn’t fully recovered, but appears likely to within the next few months.

Trade/Transportation/Utilities
2/2020———–2/2021———-2/2022

215,600———-222,800———234,900
This industry has gone well past pre-pandemic levels is one of the strongest performing in the metro area.

Information
2/2020———–2/2021———-2/2022

16,500———–15,200———-16,500
Information has fully recovered to pre-pandemic levels, but only just. It remains to be seen how much further it will improve as the industry had been losing jobs steadily since the end of 2018.

Financial Activities
2/2020———–2/2021———-2/2022

85,900———–85,000———-84,600
Unlike other industries, financial activities did not drop significantly during the crash. It did fully recover all lost jobs by November of 2021, but has slid some since.

Professional and Business Services
2/2020———–2/2021———-2/2022
178,800———-176,500———175,400
As with the Financial Activities sector, this industry did fully recover by the fall of 2021, but is now lagging a bit.

Education and Health Services
2/2020———–2/2021———-2/2022

165,100———-158,500———159,700
Although recovering slowly and ahead of last year, this industry has yet to return to pre-pandemic levels. Part of the reason for this may have been the mass resignations within the health industry due to burnout from stress.

Leisure and Hospitality
2/2020———–2/2021———-2/2022
106,800———-87,200———-96,500
This industry was arguably hit the hardest of any during the pandemic crash (jobs fell by nearly 50%), and in many cases has struggled to fill existing jobs as the economy has improved. Still, trends suggest that the industry will be fully recovered by this summer.

Other Services
2/2020———–2/2021———-2/2022

41,900———–38,800———-40,400
Another industry that will likely be fully recovered by summer or early fall.

Government
2/2020———–2/2021———-2/2022

185,300———-179,900———177,000
As the state capital, Columbus has always been heavy in this industry. However, for whatever reason, government jobs just haven’t been coming back as much and may not recover fully until sometime next year.

While the overall metro has largely recovered, several industries have not. However, most are trending towards passing pre-pandemic levels by this summer- barring any other economic problems from Covid or global events.

The Bureau of Labor Statistics, the source of this data, is useful for local employment data for any metro area in the United States.