Business Courier of Cincinnati
BYLINE: Steve Watkins
If Cincinnati could get more people to move here, its economy would grow at a faster pace.
Dick Stevie, downtown-based chief economist for Duke Energy Corp., said slow population growth is a major problem holding back local economic growth. That has lagged national trends for years.
Stevie mentioned the problem as a bigger factor than the inability of local companies to bring in high-tech workers, as the Business Courier reported in this week’s print edition.
For the record, the local economy expanded by 0.5 percent in 2011. Stevie predicted at the beginning of the year it would post 2.2 percent growth in 2012.
Meanwhile, another hidden factor is impacting the local jobs market.
Paul Wehner, senior partner at local executive search firm Kloete Group and chair of the Greater Cincinnati Human Resources Association’s staffing and recruiting committee, which completed a recent survey on local hiring, said the housing market is still serving as a drag on executive hiring.
“People are underwater on their homes,” Wehner said. “That continues to be a factor preventing people from making that change.”
So even an improved housing market could help companies find better employees.
Copyright 2012 American City Business Journal, Inc.
All Rights Reserved