Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Forecast topic
No spam. Unsubscribe anytime.
Regionomics: Columbus forecast projects modest job gains in 2026 after revised 2024 data
Summary
Regionomics panelists said revised federal data prompted last year's downward surprise; the new outlook projects modest employment gains in Central Ohio in 2026, with construction, health care and state and local government the stronger sectors.
Bill Lafayette, owner of Regionomics, opened the Columbus Metropolitan Club's annual economic forecast with an apology for last year's projections after federal revisions showed stronger-than-expected 2024 employment. "I am so sorry for last year's forecast," he said, noting Bureau of Labor Statistics revisions raised the area's recorded 2024 employment to a 1.2% gain.
Lafayette said his updated numbers show 14,600 net new jobs in 2025 (about 1.2%) and, "assuming no recession," a forecast for roughly 8,000 net new jobs in the Columbus metropolitan area in 2026 (about 0.7%). He identified construction, health care and state and local government as the sectors most likely to buck a generally slow start to the year.
Kathy Basjancic, chief economist at Nationwide Mutual, said diminished tariff uncertainty and a large federal fiscal package will support near-term growth. Basjancic estimated the federal package effectively adds roughly $50 billion in earlier-quarter tax refunds and stimulus and told the audience she expects about 2.2% GDP growth for the year at the national level. "Peak uncertainty is behind us," she said, arguing that reduced policy unpredictability should help investment and hiring.
Panelists cautioned that data revisions and agency capacity remain challenges. Lafayette and Basjancic urged restored funding for statistical agencies such as the BLS and Census to improve near-term accuracy; Lafayette said wider revisions reflect reduced follow-up capacity rather than data manipulation.
The forum closed with a reminder that the forecast is conditional: panelists said upside growth remains possible but that continued watchfulness is necessary if weak readings persist through the summer. The Columbus Metropolitan Club panel scheduled no formal votes or policy actions at the event.
