The Federal Reserve Bank of Cleveland published a District Data Brief on postpandemic employment recovery across metro areas in the Fourth Federal Reserve District, finding that nine of the 18 metros served by the Cleveland Fed have regained all jobs lost since the start of the pandemic, but the region’s recovery has lagged other US metro areas. Across Fourth District metros, employment grew 0.7 percent from February 2020 through March 2024 versus 3.8 percent for all US metro areas. Among highlighted metros, Lexington (+5.5 percent), Columbus (+3.7 percent), and Cincinnati (+2.3 percent) posted gains, while Dayton (+0.3 percent) was near flat and Akron (-0.7 percent), Toledo (-0.7 percent), Cleveland (-1.0 percent), and Pittsburgh (-2.1 percent) remained below February 2020 levels; Pittsburgh’s decline ranked second to last among large metro areas nationally and Cleveland’s decrease was also in the bottom 10. The brief also notes that Akron, Toledo, and Dayton ranked in the bottom 10 nationally for midsize metros and that the full report includes data for additional US metro areas, including 10 smaller metros in the District.
Federal Reserve Bank of Cleveland 2025-01-15
Federal Reserve Bank of Cleveland report shows half of Fourth District metro areas have returned to prepandemic employment but overall job growth trails the US
The Federal Reserve Bank of Cleveland's District Data Brief reveals that nine of the 18 metro areas in the Fourth Federal Reserve District have regained all jobs lost since the pandemic, though the region's recovery lags behind other US metro areas. Employment in the Fourth District grew by 0.7% from February 2020 to March 2024, compared to 3.8% for all US metros. Notably, Pittsburgh and Cleveland experienced significant declines, ranking among the lowest nationally.