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Dayton and surrounding region economic outlook is strong for 2024
Credit: JIM NOELKER
Credit: JIM NOELKER
• Big picture: Every year, reporter Lynn Hulsey surveys the economic landscape to bring you a big picture view of our local economy. For this year’s story, she scoured available data and interviewed 20 people from the business, real estate, economic development, government, social services, academic, performing arts and financial sectors in the region.
• Recession fears waned: An economic recession feared for 2023 did not occur, and there is widespread optimism among those interviewed that the region, state and nation are on track for a “soft landing,” meaning the battle against inflation won’t trigger a recession. Though some say a mild recession is possible this year.
• Interest rate hopes: Rate cuts by the Federal Reserve are expected this year. This could have wide-ranging impacts on housing, business investing and consumer spending for things like automobiles.
• Inflation: The Consumer Price Index, which measures inflation, increased 3.4% year-over-year in December, far better than the CPI’s 9.1% year-over-year increase in June 2022 but still short of the Fed’s 2% target, according to the U.S. Bureau of Labor Statistics (BLS). While the picture is improving, inflation is still putting a squeeze on working households.
• Wages up: Average hourly earnings also increased in December, rising 4.1% year-over-year, giving families a bit of breathing room but also increasing businesses’ labor costs, which can drive up inflation.
• Unemployment low: Job growth in the region was steady last year. The unemployment rate in the Springfield metro area was 3.3%, Dayton’s was 3.2% and the Cincinnati metro area was 3%. Ohio’s unemployment rate was 3%, the November data show.
• Workforce woes: One of the biggest challenge local leaders say they face is finding qualified workers. Wage and job growth has led to competition for employees. And some of the fastest growing sectors require a full pipeline of prospective employees being trained in technical skills. We will have more on what’s being done to address that in part two of Hulsey’s economic outlook series Monday.
Brunson’s story highlights concerns about dog fighting in region
• A good boy: Brunson was a 9-year-old pittie rescued from the streets of Trotwood and adopted by a woman named Kristen Tilton who gave him the best life she could. In photos and her stories, he comes across as a sweet pup despite the trauma he suffered. He died from his injuries within a week.
• A tragic tale: Brunson had scars and injuries suggesting he may have been used in dog fighting – possibly as a “bait dog” to teach other dogs to attack and kill. The local humane society traced an implanted chip in the dog to a man who had previously been investigated for dog fighting.
• Our investigation: Tilton reached out to us through the Dayton Daily News Investigates Facebook page. After we spoke to her and heard Bruson’s story — and saw photos and video of the dog — we decided to look into how prevalent dog fighting is in the region.
• What we found: People are under the impression that there isn’t dog fighting in Dayton, because arrests are rare. But local law enforcement and animal rights groups say it is indeed occurring but rarely prosecuted because it’s difficult to gather sufficient evidence to bring a case.
• Advocating change: Go here to read the full investigation from reporter Aimee Hancock, including Brunson’s story, more on how dog fighting rings reportedly operate in the region, and an effort to strengthen the laws.