Ohio Sees Record New Business Filings, Lowest Unemployment Rate in 18 Years


Ohio Secretary of State Frank LaRose announced Friday that the first five months of 2019 marked the strongest start to a year for new business filings in state history.

In May alone, 11,099 new entities filed to do business in Ohio. LaRose’s office revealed that 60,000 new businesses filed to conduct business in Ohio in the first five months of 2019.

That’s a state record for Ohio, according to LaRose, who noted that Ohio is up 3,089 new business filings compared to the same point in time last year.

“2019 can now boast five straight months of robust business creation,” he said. “As Ohio’s business climate continues to strengthen, our office stands ready to help connect entrepreneurs to the resources they need to succeed and grow.”

As The Ohio Star reported, March 2019 set a record for the newest business filings in a single month at 13,747 filings. That beat the previous record by 873.

April 2019 saw the fourth highest monthly total for new business filings in state history with 12,385 new entities filing to do business.

“2019 can now claim two of the four best months in state history for new business filings,” LaRose said at the time. “More and more, entrepreneurs are looking to Ohio as a place to start their business, and we stand ready to help make it happen.”

Labor officials also announced Friday that Ohio’s unemployment rate dropped to 4.1 percent in May, down from 4.2 percent in April. According to WOSU, that’s the lowest unemployment rate for Ohio since June 2001.

President Donald Trump boasted about the record economic numbers on Twitter this week.

“Since Election Day 2016, stocks up almost 50 percent, stocks gained 9.2 trillion dollars in value, and more than 5,000,000 new jobs added to the economy,” he said. “If our opponent had won, there would have been a market crash, plain and simple.”

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Anthony Gockowski is managing editor of Battleground State News, The Ohio Star, and The Minnesota Sun. Follow Anthony on Twitter. Email tips to [email protected].

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