CEDARVILLE, Ohio (WDTN) — Governor Mike DeWine gave Ohioans an update on the state’s economy during Thursday’s coronavirus briefing.
“A strong post-pandemic economy directly depends on defeating the virus. And as we are working hard to vaccinate Ohioans, we are seeing good signs in our economy as well,” said DeWine.
Ohio’s GDP outpaced the nations in the final quarter of 2020 — U.S. GDP was grew roughly 4.3% in that quarter, while Ohio’s GDP is estimated to have increased 5% during that same period.
As far as unemployment rate, Ohio’s was 5% in February and the national rate was 6.2%.
“Our state revenues are recovering as well. This month, Ohio’s tax revenues exceeded the monthly estimate by $41 million, or 2.6%, and remain 4.3% above the estimate for the fiscal year-to-date. This is a dramatic improvement from one year ago at the onset of the pandemic,” said DeWine.
The governor plans on using federal dollars strategically to shore up Ohio’s unemployment system, along with long-term actions to stabilize that system. DeWine believes this will continue this years trend of growing a strong economy.