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Kentucky's jobless rate falls to 4.5 percent in November Rate is lowest in four years; below national average Kim Saylor Brannock (502) 564-6606 ext. 130 KimS.Brannock@ky.gov Carlos Cracraft (502) 564-7976 CarlosH.Cracraft@ky.gov FRANKFORT, Ky. (Dec. 15, 2004) - Kentucky's seasonally adjusted preliminaryunemployment rate descended to 4.5 percent in November, the lowest joblessrate for Kentucky in four years, according to the Office of Employment andTraining, an agency of the Education Cabinet. The November 2004 rate wasbelow both the revised seasonally adjusted unemployment rate for October2004 of 4.8 percent and November 2003's jobless rate jobless of 6 percent.The U.S. seasonally adjusted jobless rate decreased to 5.4 percent inNovember from 5.5 percent in October, according to the U.S. Department ofLabor. "The national unemployment rate of 5.4 percent in November 2004 is .9percentage point above Kentucky's preliminary November 2004 unemploymentrate of 4.5 percent. We also are well below the 6 percent Kentucky recordedin November 2003. In addition, November was the sixth month in 2004 thatKentucky has seen an increase in nonfarm employment," 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 November, while threedecreased, Cracraft said. A monthly survey of business establishmentsrevealed that Kentucky's nonfarm employment rose by 800 on a seasonallyadjusted basis to November's 1,800,600 employees. Since November 2003,nonfarm employment has gone up 14,200. According to the seasonally adjusted employment data, Kentucky's governmentsector, which includes public education, rose by 900 jobs in November. SinceNovember 2003, this sector has dropped by 2,300 jobs. The educational and health services sector reported 400 more jobs inNovember 2004 than in October 2004. Since November 2003, the sector hasadded 2,900 jobs. 3000 more jobs in construction Kentucky's construction sector reported 300 more jobs in November 2004 thanin October 2004. Since November 2003, employment in this sector has shot upby 4,900. "The construction sector has added employment for four consecutive monthsand eight of past nine months of 2004," said Cracraft. The professional and business services sector employment went up by 300employees from October 2004 to November 2004. This sector recorded the samenumber of employees in November 2003 and November 2004. Kentucky's leisure and hospitality sector rose by 200 jobs in November 2004.Since November 2003, the sector's employment has grown by 8,500 employees.The sector includes arts, entertainment, recreation, accommodations and foodservices and drinking places industries. The financial activities sector added 100 jobs in November. This sector,which includes establishments involved in finance, insurance, real estateand property leasing or rental, has increased by 1,100 jobs over the past 12months. Other sectors up, but not as much Employment in the other services sector, which includes such establishmentsas repair and maintenance places, personal and laundry services, religiousorganizations, and civic and professional organizations, also rose by 100jobs in November. Over the past 12 months, the sector has added 1,400employees. Trade, transportation, and utilities sector down On the negative side of the ledger, the state's trade, transportation andutilities sector, employment fell by 700 jobs in November 2004. This sectorincludes retail and wholesale trade, transportation and utilitiesbusinesses, and warehousing, and is the largest sector in Kentucky with372,700 employees. Since November 2003, the number of jobs in this sectorhas increased by 1,100 employees. The state's manufacturing sector decreased by 500 jobs in November. Comparedto November 2003, the sector had 3,000 fewer employees in November 2003. "The manufacturing sector has fluctuated this year. For example, in Augustand September of this year, the sector added 4,600 jobs but then lost 800 inOctober and November," said Cracraft. Information sector down Information sector employment went down by 300 jobs in November 2004. Thissector, which includes firms involved in publishing, Internet activities andbroadcasting and news syndication, had 500 fewer jobs since November 2003. The U.S. Bureau of Labor Statistic's monthly estimate of the numberof employed Kentuckians for November 2004 was 1,891,174 on a seasonallyadjusted basis. This figure is up 5,276 from the 1,885,898 employed inOctober 2004, and up 46,061 from the 1,845,113 employed in November 2003. Unemployed statewide put at 88,448 The monthly estimate of the number of unemployed Kentuckians forNovember 2004 was 88,448. This figure is down 6,228 from the 94,676unemployed in October 2004, and down 29,767 from the 118,215 Kentuckiansunemployed in November 2003. The monthly estimate of the number of Kentuckians in the civilianlabor force for November 2004 was 1,979,622. This figure is down 952 fromthe 1,980,574 recorded in October 2004, but up 16,294 from the 1,963,328recorded for November 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. Employment statistics fluctuate sharply 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. Learn more about the Office of Employment and Training atwww.workforce.ky.gov . This story was posted on 2004-12-15 08:23:55
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