Thu June 14, 2012
Kentucky Unemployment Drops to Match National Rate at 8.2 Percent
The Kentucky's jobless rate has fallen to 8.2 percent.
The latest figures from the Kentucky Office of Employment and Training show the unemployment dropping last month from 8.3 percent in April. This is the 10 consecutive month that a decrease was recorded.
It's also the first time since 2004 that Kentucky unemployment has been equal to or better than the national unemployment rate, which was also 8.2 percent for May.
Kentucky's leisure and hospitality job sector had the biggest increase in May. Here's a sector-by-sector breakdown from the Office of Employment and Training:
- In May 2012, Kentucky’s civilian labor force was 2,065,666, an increase of 2,693 individuals compared to the previous month.
- Kentucky’s seasonally adjusted nonfarm employment rose by 600 jobs in May 2012 from the month before, and by 36,100 positions since May 2011.
- Kentucky’s leisure and hospitality sector added the most jobs in May with 2,600 more positions than a month ago. Since May 2011, the sector has grown by 7,900 positions or nearly 5 percent. This sector includes arts, entertainment, recreation, accommodation and food services.
- The information sector gained 600 jobs in May 2012. This segment has added 400 positions since May 2011. The industries in this sector include traditional publishing as well as software publishing; motion pictures and broadcasting; and telecommunications.
- Kentucky’s manufacturing sector added 500 jobs in May 2012 compared to the previous month. Since May 2011, employment in manufacturing has increased by 8,200 jobs.
- Construction jobs rose by 400 in May 2012 from a month ago. Since May 2011, employment in construction has fallen by 1,400 positions.
- Employment in the other services sector, which includes repairs and maintenance, personal care services, and religious organizations, went up by 300 positions in May 2012. Since last May, the sector has added 600 jobs.
- Employment in the mining and logging sector increased by 200 in May 2012. The number of jobs in this sector has dropped by 900 from May 2011.
- Professional and business services added 100 positions in May 2012. This category includes establishments engaged in services that support the day-to-day activities of other organizations, including temporary employment services. Since last May, jobs in the sector have increased by 19,900 or nearly 11 percent.
- The financial activities sector dropped by 200 jobs in May 2012. However, when compared to May a year ago businesses involved in finance, insurance, real estate and property leasing lost 1,100 jobs.
- The government sector, which includes public education, public administration agencies and state-owned hospitals, declined by 700 jobs in May 2012. The sector had 3,300 fewer jobs compared to May 2011.
- The trade, transportation and utilities sector lost 1,000 jobs in May 2012. This is the largest sector in Kentucky with 366,000 positions, and accounts for about 20 percent of nonfarm employment. Since May 2011, jobs in this sector have increased by 1,700.
- Employment in the educational and health services sector declined by 2,200 jobs in May 2012. The sector has posted a gain of 4,100 jobs since May 2011.