Columbus Market Report
Pace of Economic Recovery Remains Cloudier in Columbus; Flight-to-Safety in Retail and Industrial Pursued by Investors
Murky job outlook persists in Columbus. Despite reopening many businesses, the return of positions in the market has been slower than the nation. Through September, only 44 percent of jobs lost to the health crisis had been recovered as every major employment sector remained below the previous high watermark. The major office-using sectors were generally more durable than others, hovering less than 5 percent below the prior peak. JPMorgan Chase and Nationwide are major local employers and a resumption of hiring by those firms could serve as a catalyst for a more rapid recovery. Education and health services positions will also return rapidly when demand for elective procedures reappears following the conclusion of the health crisis.