EID's Shawn blogs on the ODJFS Shale Report highlighting the oil and gas industry's pivotal role in Ohio's economic recovery:

"A recent Ohio Department of Job and Families Services (ODJFS) Shale Report shows Ohioans are benefiting once again from shale development.  Coupling the recent US Chamber study touting employment of 38,830 people related to shale development in Ohio and sales tax revenues jumping in the shale development region of the state, the ODJFS report further solidifies shale development’s tremendous positive impact on eastern Ohio.

The report found several items worth noting when discussing the remarkable impact shale development has had on Ohioans over the past year.  Not only has core shale related employment increased by 17%, but wages earned in the industry in Ohio are $30,247 greater than the state average, helping Ohio recover from the recent recession.

The ODJFS report also found unemployment rates in many of the counties in the shale producing region have gone from being above the national average to dropping below the national average in just one year.  It should also be noted that all counties that had shale development experienced a significant drop in unemployment.

Here are a few items from the ODJFS Executive Summary worth mentioning:

Wages:

•  The average wage across all industries in Ohio for 2011 Q2 through 2012 Q1 was $43,687.

•  The average wage in the core industries was $73,934 and is approximately $30,247 greater than the average wage for all industries.

• The average wage in the ancillary industries was $58,765 and is approximately $15,078 higher than the average wage in Ohio.

It should be noted that although the average wage in Ohio is $43,687, these wages tend to be much lower in eastern Ohio where the majority of the wage associated with shale development takes place.

Employment: 

• Core industry employment (such as pipeline construction and well drilling) was up 1,066 (17 percent).

•  Ancillary industry employment (such as freight trucking and environmental consulting) was up 4,809 (3.1 percent).

•  All industry employment was up 90,435 (1.9 percent).

As you can see, core industry employment and ancillary industry employment both outpaced Ohio’s industry employment.  This comparison continues to show that shale development is one the quickest growing industries in all of Ohio."

READ THE REST: http://www.eidohio.org/new-report-shows-shales-promise-in-ohio/