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Kentucky unemployment 4.7%, year's lowest; well below U.S. rate FRANKFORT, Ky. (Nov. 23, 2004) - Kentucky's seasonally adjusted unemploymentrate remained at 4.7 percent from September to October, its lowest level ofthe year, according to the Office of Employment and Training, an agency ofthe Education Cabinet. Last October, the state's seasonally adjusted joblessrate was 6 percent. The U.S. seasonally adjusted jobless rate increased to 5.5 percent inOctober from 5.4 percent in September, according to the U.S. Department ofLabor. "Kentucky's October 2004 unemployment rate is 1.3 percent below where it wasthis time last year. We have seen a steady decline in the rate all year andnow we have remained below the 5 percent level for the second straightmonth. We haven't had unemployment rate figures this low since early in2001," said Carlos Cracraft, the department's chief labor market analyst. Seven of the 10 major nonfarm job North American Industry ClassificationSystem (NAICS) sectors had employment increases in October, while threedecreased, Cracraft said. A monthly survey of business establishmentsrevealed that Kentucky's nonfarm employment rose by 6,100 on a seasonallyadjusted basis to October's 1,798,100 employees. Since October 2003, nonfarmemployment has gone up 12,900. According to the seasonally adjusted employment data, Kentucky's leisure andhospitality sector expanded by 2,600 jobs in October 2004. Since October2003, the sector's employment has grown by 9,200 employees. The sectorincludes arts, entertainment, recreation, accommodations and food servicesand drinking places industries. The educational and health services sector reported 1,500 more jobs inOctober 2004 than in September 2004. Since October 2003, the sector hasadded 3,200 jobs. In the state's trade, transportation and utilities sector, employment wentup by 1,000 jobs in October 2004. This sector includes retail and wholesaletrade, transportation and utilities businesses, and warehousing, and is thelargest sector in Kentucky with 373,000 employees. Since October 2003, thenumber of jobs in this sector has increased by 400 employees. Kentucky's construction sector reported 900 more jobs in October 2004 thanin September 2004. Since October 2003, employment in this sector hasskyrocketed with a 5,100 increase in employees. The professional and business services sector employment went up by 800employees from September 2004 to October 2004. This sector recorded 100 moreemployees in October 2004 than in October 2003. Employment in the other services sector, which includes such establishmentsas repair and maintenance places, personal and laundry services, religiousorganizations, and civic and professional organizations, jumped by 400 jobsin October. Over the past 12 months, the sector has added 1,200 employees.The financial activities sector added 100 jobs in October. This sector,which includes establishments involved in finance, insurance, real estateand property leasing or rental, has increased by 1,400 jobs over the past 12months. On the negative side, the government sector, which includes publiceducation, fell by 500 jobs in October. Since October 2003, this sector hasdropped by 5,000 jobs. The state's manufacturing sector decreased by 300 jobs in October. Comparedto October 2003, the sector had 2,900 fewer employees in October 2003. Information sector employment went down by 100 jobs in October 2004. Thissector, which includes firms involved in publishing, Internet activities andbroadcasting and news syndication, had 100 fewer jobs since October 2003. The U.S. Bureau of Labor Statistic's monthly estimate of the numberof employed Kentuckians for October 2004 was 1,885,283 on a seasonallyadjusted basis. This figure is down 1,320 from the 1,886,603 employed inSeptember 2004, but up 42,106 from the 1,843,177 employed in October 2003. The monthly estimate of the number of unemployed Kentuckians forOctober 2004 was 93,921. This figure is up 1,226 from the 92,695 unemployedin September 2004, but down 23,819 from the 117,740 Kentuckians unemployedin October 2003. The monthly estimate of the number of Kentuckians in the civilianlabor force for October 2004 was 1,979,204. This figure is down 94 from the1,979,298 recorded in September 2004, but up 18,287 from the 1,960,917recorded for October 2003. Unemployment statistics are based on estimates and are compiled to measuretrends rather than actually to count people working. Civilian labor forcestatistics include non-military workers and unemployed Kentuckians who areactively seeking work. They do not include unemployed Kentuckians who havenot looked for employment within the past four weeks. Kentucky's statewide unemployment rate and employment levels are seasonallyadjusted. Employment statistics undergo sharp fluctuations due to seasonalevents, such as weather changes, harvests, holidays and school openings andclosings. Seasonal adjustments eliminate these influences and make iteasier to observe statistical trends. However, because of the small samplesize, county unemployment rates are not seasonally adjusted. This story was posted on 2004-11-23 11:31:19
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Columbia Police arrest Russell man on drug charges 27-year-old Columbia, KY, woman jailed on marijuana charges Rollin McQueary does it again! Holiday Arts Tour is Saturday around Adair County Public Health Urges Kentuckians to ''Make the Link'' Reader shares ad offering cigarettes for $1.55 a carton Veterans honored at Columbia Wal-Mart City has Scott's Courthouse prints available for holiday gifting Third Olden Times Mystery Photo from William L. Willis 40-year-old Russell Springs woman arrested on drug charge View even more articles in topic News |
 
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