Northeast Ohio is projected to add 20,700 jobs across all occupations over the next five years, including 8,500 new healthcare openings for practitioners, and technical and healthcare support personnel.
Additionally, more than 1 million replacement workers will be needed over the next five years, including 160,000 in office and administrative occupations, and more than 100,000 in production sectors. Healthcare-related occupations will require 77,700 replacement workers.
Demand for technology expertise continues to grow in manufacturing, as well as in headquarter operations across industry segments throughout the region, with corresponding increases in employment opportunities.
“The landscape for future jobs is shifting as technology plays an increasingly pivotal role in our economy,” said Bill Koehler, CEO of Team NEO. “Specialized skills are needed in areas such as smart manufacturing for the implementation of the Industrial Internet of Things.”
Other statistics of Northeast Ohio’s economic indicators for the 18 counties include:
- Total employment is at 1.895 million
- Employment has increased by almost 12,000 from Q1 2017 to Q1 2018
- Unemployment rate decreases year-over-year
- The Northeast Ohio unemployment rate averaged 5.4 percent in Q1 2018, a decrease from 6.7 percent in Q1 2017
- All sectors see year-over-year growth
- The construction sector added more than 2,200 jobs from Q1 2017 to Q1 2018, while the manufacturing sector added just over 4,000 jobs, and the services sector more than 4,500
- Well production activity continues to grow
- Statewide, there are 1,030 wells in production
Team NEO publishes the Cleveland Plus Economic Review quarterly to provide a holistic picture of Northeast Ohio’s economy. It is the only regular source of collective economic data for the 18-county region. The nonprofit organization uses this information to attract new businesses and jobs to Northeast Ohio and help those that are here grow.
Team NEO uses Moody’s Economy.com, the U.S. Bureau of Labor Statistics data, and Ohio’s Labor Marketing Information to aggregate regional figures.