States Whose Unemployment Claims Are Recovering the Quickest - As of June 21st 2022 - Ohio is dead last.
The lower the number the quicker the economic recovery. The higher the number the worse the economic recovery is going.
Ohio's (BSF)Balance Stabilization Fund is fully funded (Rainy Day Fund) to the tune of
Why is the BSF being fully funded bad? If there were ever a time to use the BSF it was during the COVID-19 pandemic to shore up businesses by reducing their tax burden. With inflation - the government is unnecessarily taking disposable income out of the economy and this all helps negatively impact the economy.
Economic Dynamism (based predominantly on business Startups) is way down in Ohio.
Americans are not creating new businesses at the rate that they once did. This is severely impacting the robustness of the economy.
Ohio rebounds more slowly than other States from an economic calamity and its businesses are among the first to fail.
While the Government and government employees are doing great - we did not use Ohio's BSF (rainy day fund) to provide relief to Ohio's small businesses during the COVID-19 down-turn.
According to the Economic Innovation Group there are 20,000 less businesses in Ohio in 2022 than there were in 1992.
Working Ohioans have far more to lose from an economy that is changing too little and too slowly than from one that is quickly adapting and advancing to new frontiers. In recent decades, Ohio's policymakers have ignored signs that the dynamic mechanisms at the heart of our economy were growing weaker. Worse still, policy failures at every level of of Ohio'a government have contributed to the sclerosis that has slowly robbed Ohio of its vitality.