ECONOMIC OVERVIEW

Prior to the pandemic, Dayton’s real gross metropolitan product grew at an average annual rate of 1.6% from 2015 to 2019. During that same five-year period, job growth av eraged 1.0% annually, with roughly 3,900 jobs added on av erage each year. In 2020, COVID-19 mitigation measures and limited business activity caused the local economy to contract as much as 9.6% year-over-year in 2nd quarter. In 2022, the metros inflation-adjusted economic output con tracted 0.8%. At the same time, the metro recorded a net gain of 2,900 jobs, expanding the employment base 0.8%.

As such, Dayton’s unemployment rate in November 2022 declined 0.4 points year-over-year to 3.2%, below the na tional average of 3.4%. During the past year, job gains in Dayton were most pronounced in the Leisure/Hospitality Services sector followed by Government and Profession al/Business Services. Due to job losses stemming from the pandemic, Dayton’s current employment base now sits roughly 5,100 jobs or about 1% below the pre-pandemic level in February 2020.

Population: 743,000

Median age: 33.5