Cleveland Plus 2Q 2010

Cleveland Plus Region Showing Signs of Economic Improvement: In the 2nd quarter of 2010, the Cleveland Plus economy showed signs of improvement, with declines in the unemployment rate, increases in total employment by more than 55,000 jobs, a decline in unemployment claims and projected GRP growth of 3.1% in 2010. In addition, the Cleveland Plus Region is performing more similar to the U.S.: Likely due to economic diversification and industry transformation, the Cleveland Plus region is performing more similar to the U.S. during the current recession than previous economic declines, with regard to both economic output (GRP) and employment. The Regions is Experiencing Employment Growth in Services and Manufacturing: Since January 2010, Cleveland Plus has seen employment growth in its two largest sectors. Manufacturing employment grew by approximately 8,000 jobs between January and June of 2010, while service sector employment grew by nearly 48,000 jobs. Click here to read.