COLUMBUS – Ohio had 125,204 new business filings in 2018 to make it a record-breaking year for new businesses formed in the Buckeye State, Ohio Secretary of State Jon Husted announced Friday.
This marks the ninth consecutive year the state has seen a record number of new entities choose Ohio as the place they want to do business, according to a news release from Husted.
The previous record was set in 2017 when 117,429 new businesses registered with the Secretary of State’s office.
“During the last eight years, my administration has focused on providing the best customer service possible, implementing innovative reforms, and cutting costs and processing times associated with starting and maintaining a business in Ohio,” Secretary Husted said. “As a result, we have made our state a place where people increasingly want to do business and shown how government can – and should – work.”
Making it simpler and less costly to do business in Ohio has been a top priority for Husted since taking office in 2011. According to Husted, some successes include: the launch of Ohio Business Central, which enables all Ohio-based businesses to form and renew their business status online — this service has provided easier access, reduced processing time, and saved taxpayer dollars; and, a 21 percent reduction to the costs for starting and maintaining a business in Ohio, making the Buckeye State the least costly state in the region for starting and maintaining a business.
US jobs report positive
U.S. Secretary of Labor Alexander Acosta on Friday said regarding the December 2018 Employment Situation report: “With more than 5 million jobs added since the 2016 election, the American economy surpassed 150 million jobs for the first time ever.
“This month’s strong jobs report exceeded expectations, with 312,000 jobs added in December and, adding upward revisions from October and November, saw a total of 370,000 jobs added to the economy,” Acosta said in a news release. “Significant job gains were widespread including the construction, manufacturing, retail trade, education and health services and leisure and hospitality sectors.
“The labor force added 419,000 individuals and saw a 0.2 percent increase to 63.1 percent. Labor force participation for women 25-54 was particularly strong, rising by 0.3 percent, returning to 2009 levels.
“Average hourly earnings rose by 3.2 percent over the past 12 months and this is the third straight month that the year-over-year wage gains exceeded 3 percent. Prior to October 2018, the last time average hourly wage gains exceeded 3 percent was April 2009.”
He said that as more people moved into the labor force, the unemployment rate moved up to 3.9 percent. More individuals moving into the labor force is welcomed news as job creators look to fill seven million open jobs.
“This closes a very strong 2018,” he stated. “Positive news was widespread: 2.6 million new jobs created in the past twelve months, America’s average wage earnings are on the rise, 8 months of unemployment below 4 percent, and series low unemployment rates this year for African-Americans, Asian-Americans, Hispanic-Americans, and those without a high school degree.”