Mentor Business Briefs: June 2016

businessnewsSingle-Family Dwellings on the Rise
As of the end of May, the number of single-family dwellings constructed in the City (48) increased 60% over the previous year (2015) and is at its highest number since 1999.

Mentor’s April Unemployment Rate Decreased to 3.9%
The unemployment rate for the City of Mentor decreased 0.7% to 3.9% for the month of April 2016.  One year ago the unemployment rate was 3.8%. In Lake County, the unemployment rate decreased to 4.3% in the month of April; one year ago the unemployment rate was 4.2%.

The City of Mentor is tied for second with Kettering and Columbus for the lowest unemployment rate among cities with a population of 50,000 or more. Lakewood remains the lowest at 3.7%.  The City’s civilian labor force increased slightly to 26,500, an addition of 300.

The State of Ohio’s unemployment rate decreased to 4.8% for the month of April; 0.2% higher from one year ago.

United States Census Population Estimates Comparison
The United States Census Bureau released population estimates for July 1, 2015; this represents the mid-point between decennial censuses.

2010 2015 Change % Change
Mentor 47,159 46,901 -258 -0.5
Willoughby 22,268 22,631 363 1.6
Painesville 19,563 19,776 213 1.0
Concord 18,201 18,245 44 0.2

While the City of Mentor continues its population loss; it is modest as are the population “gains” in abutting communities.

 

2016-10-28T14:15:51+00:00June 9th, 2016|Economic Development, News|