Economic News

The unemployment rate for the City of Mentor decreased 0.8% to 2.5% for the month of October 2023. One year ago, the unemployment rate was 3.3%. In Lake County, the unemployment rate decreased 0.6% to 2.7% for the month of October; one year prior, it was 3.4%.

Among cities in Ohio with a population of 50,000 or more, Mentor has the lowest unemployment rate with 2.5%, Lakewood has the next lowest rate at 2.7%. Parma has the third lowest rate with 3.0%, Cleveland Heights has the fourth lowest rate at 3.1%, and Kettering has the fifth lowest rate at 3.5%. The City’s civilian labor force remained the same at 26,900.

The State of Ohio’s unemployment rate remained at 3.5% for the month of October 2023. The rate for the State was 3.7% in October 2022.

SOURCE:  October 2023 Civilian Labor Force Estimates – Ohio Department of Job & Family Services, Office of Workforce Development and Bureau of Labor Market Information.