Ohio Steel Shipping, Production up; Employment down

Ohio Steel Shipping, Production up; Employment down

An Ohio Steel Council report released May 2, 2005, indicates that the state’s steel industry marked 4-year highs in shipping, production, and capital spending. The positive numbers are attributed to a resurgence in worldwide steel markets; steel industry consolidation; better, more efficient technology; and workforce training and reorganization. In 2004, Ohio steel production was 14.9 million tons, the highest since 2000’s 17.3 million tons. Meanwhile, production was up 13.6% from 2003. Shipments climbed 8.8% year on year to reach 15.3 million in 2004. The same figure was only a mere 4% off 2000’s 15.9 million tons. 2004’s $351.5 million in capital investment spending was a 5-year high and a dramatic 143% increase over 2003. Excepting 2000, 2004 shaped up to be one of the strongest years since 1998. The news, however, was not entirely positive. While payroll rose 1.4% to $904 million, employment in Ohio’s steel industry fell from 16’021 to 15’324 in 2004, a decline of 4.3%.