If you need another example of why Keynesian economics just doesn’t work, you need go no further than your own backyard in Cincinnati.
The Greater Cincinnati/Northern Kentucky unemployment rate jumped by nearly a full percentage point to 10.8 percent in January, according to data released Wednesday by the Ohio Department of Job and Family Services.
It’s the first time during the current recession that the area has exceeded double digits. It’s also the highest rate locally since June 1983, when the rate hit 11.3 percent. The region’s all-time high on record is 12.5 percent, reached in January 1983.
Job cuts increased the number of unemployed people in the region to 120,200, the biggest number since 1970 when local records began to be kept. They made January the 11th consecutive month that the ranks of the local jobless have exceeded 100,000.
The big reason behind the jump in joblessness was that local employers cut 32,400 jobs from payrolls as compared with December, when the rate was 9.9 percent. Read more….
So under Obama’s Stimulus, the Greater Cincinnati Metro Statistical Area’s unemployment increased .9% in just one month!
Here’s a map of unemployment, by county, in the State of Ohio:
The unemployment rate stands at 10.8% in Ohio, 10.4% in Hamilton County and tops out at 18.6% in Noble 19.8% in Ottawa.
Ohio, what has the Stimulus done for you? I think the map says it all.
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Tags: Ohio, unemployment
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