Columbus Job Growth Could Slow, Economists Warn

Columbus Job Growth Could Slow, Economists Warn

In some areas of Columbus, job growth has been moderate at best. The increase in jobs is not seasonally related, but it could be hampered if there is a continuous strain on employers. City officials are taking steps to reduce the costs businesses have to pay in the hopes of reducing the risk of many leaving. However, not all costs are controllable. Rather, some costs, like the increase in fuel costs, could stop employers from hiring additional employees. Due to the increase in costs, some companies may be apt to slow hiring to reduce overall operational costs.

In Columbus, the average cost of gas rose again this week. The city average is now $3.76 per gallon with most experts predicting the cost will rise to as much as $4 within the coming weeks. If it continues to rise over the next few months, many companies will be facing a significant reduction in the affordability of managing costs. One way they could reduce costs is to slow hiring.

In the Columbus area, we have seen some companies step up and begin hiring again, with the expectation that the economy is on a positive upswing. However, with the risks associated with fuel costs and how it affects every aspect of business, this could slow job creation. Something that would be even worse is the reduction of employees due to a reduction in costs. By and far, the increase in gas costs could trigger an economic slowdown especially if it continues to mount.

Job seekers in Columbus, are you feeling the pinch in the cost of fuel already?