FRANKFORT, Ky. (Oct. 17, 2024) — Kentucky’s seasonally adjusted preliminary September 2024 unemployment rate was 4.9%, according to the Kentucky Center for Statistics (KYSTATS), an agency within the Kentucky Education and Labor Cabinet.
The preliminary September 2024 jobless rate was up 0.1 percentage points from August 2024 and up 0.6 percentage points from one year ago.
The U.S. seasonally adjusted jobless rate for September 2024 was 4.1%, which was down from the 4.2% recorded for August 2024, according to the U.S. Department of Labor.
Labor force statistics, including the unemployment rate, are based upon estimates from the Current Population Survey of households. The survey is designed to measure trends in the number of people working and includes jobs in agriculture and individuals who are self-employed.
Kentucky’s civilian labor force was 2,068,927 in September 2024, an increase of 7,306 individuals from August 2024. The number of people employed in September increased by 4,964 to 1,967,416 while the number unemployed increased by 2,342 to 101,511.
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 4,800 jobs to 2,045,400 in September 2024 compared to August 2024. Kentucky’s nonfarm employment was up 18,800 jobs or 0.9% compared to September 2023.
“Both the household and business surveys point to improvements in Kentucky’s labor market last month,” said University of Kentucky’s Center for Business and Economic Research (CBER) Director Mike Clark, Ph.D. “In September, Kentucky employers added jobs, more people found work, and more people entered the labor market. While the state’s unemployment rate increased, the increase was due to more people entering the labor market rather than workers losing jobs, which is a trend we’ve seen for several months now.”
Nonfarm data is provided by the Bureau of Labor Statistics’ Current Employment Statistics program. According to the survey, employment increased for five of Kentucky’s major nonfarm North American Industry Classification System (NAICS) job sectors in September 2024, decreased for five, and was unchanged for one.
The leisure and hospitality sector added 1,900 positions in September. This sector reported 2,400 more jobs in September than one year ago. The accommodations and food services subsector was up by 1,500 positions in September. The arts, entertainment and recreation subsector increased by 400 jobs from August to September.
The educational and health services sector increased by 1,500 positions in September 2024. Employment in the health care and social assistance subsector rose by 1,100 jobs from August to September. The educational services subsector added 400 jobs. Since last September, this sector has grown by 15,000 jobs or 4.9%.
Employment in the trade, transportation and utilities sector added 1,300 positions from August to September and was up 300 jobs compared to a year ago. Employment was up by 400 jobs in wholesale trade subsector; 200 jobs in the retail trade subsector; and 700 jobs in the transportation, warehousing and utilities subsector.
Jobs in the financial activities sector rose by 600 positions from August 2024 to September 2024. The finance and insurance subsector added 300 jobs. Employment in the real estate, rental and leasing subsector was also up by 300 jobs. This sector was down 500 jobs from September 2023.
The government sector increased by 1,000 jobs from August 2024 to September 2024. The number of jobs increased by 100 jobs in federal government; 300 jobs in state government; and 600 jobs in local government. The total number of government jobs rose by 3,200 positions or 1% compared to September 2023.
The number of jobs in the state’s mining and logging sector was unchanged in September. This sector had 700 more jobs in September 2024 compared to September 2023.
Employment in Kentucky’s professional and business services sector fell by 100 jobs in September 2024. From August to September, employment rose by 1,000 jobs in the professional, scientific and technical services subsector; fell by 100 positions in the management of companies subsector; and fell by 1,000 jobs in the administrative, support and waste management subsector. The sector was up 200 positions compared to September 2023.
Kentucky’s manufacturing sector fell by 200 jobs from August 2024 to September 2024. All the manufacturing job losses in September occurred in the durable goods manufacturing subsector. Kentucky’s manufacturing employment was down 2,800 positions or 1.1% compared to September 2023.
Employment in Kentucky’s information services sector fell by 200 jobs from August to September. The industries in this sector include traditional publishing as well as software publishing; motion pictures and broadcasting; and telecommunications. The number of jobs in this sector was down 1,400 from one year ago.
The other services sector was down by 200 jobs from August to September. This sector had 100 more positions in September 2024 compared to September 2023. This sector includes repairs and maintenance, personal care services and religious organizations.
The construction sector lost 800 jobs from August 2024 to September 2024, but was up 1,600 positions or 1.8% from one year ago.
“After posting strong employment growth during the first half of the year, construction activity appears to have cooled in recent months,” said Clark. “Both August and September saw declines in construction employment.”
Civilian labor force statistics include nonmilitary workers and unemployed Kentuckians who are actively seeking work. They do not include unemployed Kentuckians who have not looked for employment within the past four weeks.
Kentucky’s statewide unemployment rate and employment levels are seasonally adjusted. Employment statistics undergo sharp fluctuations due to seasonal events, such as weather changes, harvests, holidays, and school openings and closings. Seasonal adjustments eliminate these influences and make it easier to observe statistical trends. However, due to the small sample size, county unemployment rates are not seasonally adjusted.
Visit the Kentucky Center for Statistics website to learn more about Kentucky labor market information.
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