Kentucky’s Unemployment Rate at 4.8 percent in November 2016
Kentucky’s seasonally adjusted preliminary unemployment rate for November 2016 was 4.8 percent from a revised 5.1 percent in October 2016, according to the Office of Employment and Training (OET), an agency of the Kentucky Education and Workforce Development Cabinet.
The preliminary November 2016 jobless rate was 0.8 percentage points lower than the 5.6 percent rate recorded for the state in November 2015.
The U.S. seasonally adjusted jobless rate for November 2016 was 4.6 percent, according to the U.S. Department of Labor.
Labor force statistics, including the unemployment rate, are based on estimates from the Current Population Survey of households. It is designed to measure trends rather than to count the actual number of people working. It includes jobs in agriculture and those classified as self-employed.
In November 2016, Kentucky’s civilian labor force was 2,004,568, an increase of 7,365 individuals compared to the previous month. Employment was up by 12,437, and the number of unemployed decreased by 5,072.
“In November, our labor force increased by .4 percent,” said Kentucky Labor Market Information Director Kate Shirley Akers, Ph.D. “Over the last year, Kentucky has seen growth in both the labor force and the number of employed, with the labor force growing by 2.8 percent and employment increasing by 3.7 percent.”
In a separate federal survey of business establishments that excludes jobs in agriculture and people who are self-employed, Kentucky’s seasonally adjusted nonfarm employment increased by 3,900 jobs in November 2016 compared to October 2016 and was up 15,600 positions since November 2015.
“Overall, nonfarm employment has increased by .8 percentage points from one year ago,” said Akers. “The largest month-to-month gain in jobs was in the professional and business services sector.”
Nonfarm data is provided by the Bureau of Labor Statistics’ Current Employment Statistics program. According to this survey, six of Kentucky’s 11 major nonfarm North American Industry Classification System (NAICS) job sectors registered gains in employment, while five declined from the previous month.
Kentucky’s professional and business services sector expanded by 5,700 jobs in November 2016 from a month ago. Year-over-year there was a gain of 6,800 jobs. This category includes establishments engaged in services that support the day-to-day activities of other organizations, including temporary employment services and payroll processing.
“The month-to-month increase in professional and business services sector was driven by gains in administrative and support, and waste management and remediation services, which includes temporary employment services. This area added 4,800 jobs from October 2016 to November 2016,” said Akers.
Employment in Kentucky’s manufacturing sector jumped by 600 jobs in November 2016 compared to the previous month. Over the year, manufacturing employment rose by 300. Durable goods account for two-thirds of the manufacturing sector and grew by .9 percent from a year ago with the addition of 1,500 jobs. Nondurable goods lost 1,200 jobs from a month ago but gained 700 positions over the year.
(story provided by Economy for Kentucky)