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KELC releases June 2023 Unemployment Report From Mike Clark/Kim Saylor Brannock Frankfort, KY - Kentucky's seasonally adjusted preliminary June 2023 unemployment rate was 3.8%, according to the Kentucky Center for Statistics (KYSTATS), an agency within the Kentucky Education and Labor Cabinet (KELC). The preliminary June 2023 jobless rate was unchanged from May 2023 and was down 0.1 percentage points from one year ago. The U.S. seasonally adjusted jobless rate for June 2023 was 3.6%, which was down 0.1 percentage points from May 2023, 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 2,054,436 in June 2023, an increase of 2,017 individuals from May 2023. The number of people employed in June rose by 1,924 to 1,977,136 while the number unemployed increased by 93 to 77,300. "Kentucky's unemployment rate held steady at 3.8% in June," said University of Kentucky's Center for Business and Economic Research (CBER) Director Mike Clark, Ph.D. "As more workers continue to enter the labor force, they are quickly finding jobs. As a result, there was little change in the number of people unemployed." 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 6,400 jobs to 2,015,600 in June 2023 compared to May 2023. Kentucky's nonfarm employment was up 61,100 jobs or 3.1% compared to June 2022. 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 June 2023, decreased for four, and was unchanged for two. Kentucky's professional and business services sector jumped by 3,500 jobs or 1.5% in June 2023. Employment increased by 2,200 jobs in the professional, scientific and technical services subsector. The administrative, support and waste management subsector grew by 1,500 jobs. Employment in the management of companies subsector fell by 200 jobs from May to June. The sector has increased by 7,100 jobs or 3.1% since June 2022. "Kentucky's professional and business services sector has recovered the jobs lost during the end of 2022," said Clark. "Much of this recovery occurred among the administrative, support and waste management subsector. However, jobs in the professional, scientific and technical services subsector have also seen strong gains in recent months." Construction employment increased by 2,000 jobs or 2.3% from May to June 2023 and was up 6,600 positions or 8% from one year ago. The educational and health services sector gained 1,700 positions in June 2023. Employment in the health care and social assistance subsector added 1,500 jobs in June while the educational services subsector rose by 200 jobs. Since last June, this sector has grown by 13,600 jobs or 4.8%. The government sector grew by 1,100 jobs from May 2023 to June 2023. Employment increased by 200 in federal government; 600 jobs in state government; and 300 jobs in local government. Employment in the total government sector rose by 10,000 positions or 3.4% compared to June 2022. Kentucky's information services sector increased by 200 jobs in June. 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 grew by 1,100 or 5.2% from one year ago. Employment in trade, transportation and utilities sector was unchanged from May to June but was up 10,200 jobs or 2.4% compared to a year ago. Employment fell by 400 jobs in the wholesale trade subsector and by 100 jobs in the transportation, warehousing and utilities subsector. Employment in the retail trade subsector rose by 500 jobs. The number of jobs in the state's mining and logging sector did not change from May to June. This sector had 400 more jobs compared to June 2022. The leisure and hospitality sector lost 200 positions from May 2023 to June 2023. This represents a decline of 0.1%. This sector reported 4,000 more jobs in June than one year ago. Employment in the arts, entertainment and recreation subsector rose by 300 jobs from May to June. The accommodations and food services subsector had 500 fewer jobs in June than May. Employment in the financial activities sector fell 400 jobs from May 2023 to June 2023. Employment was down by 800 jobs in the finance and insurance subsector from May to June but was up 400 jobs in the real estate, rental and leasing subsector. The sector decreased by 2,400 positions compared to last June. The other services sector lost 600 jobs in June 2023 but had 2,400 more positions compared to June 2022. This sector includes repairs and maintenance, personal care services and religious organizations. Kentucky's manufacturing sector lost 900 jobs from May 2023 to June 2023. Durable goods manufacturing employment was down 700 jobs in June. Employment in non-durable goods manufacturers was down 200 jobs. Kentucky's manufacturing employment was up 8,100 positions or 3.2% since June 2022. 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. This story was posted on 2023-07-20 14:34:37
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Two Boil Water Advisories lifted Pennyroyal Barrel Co. announces $8.5M project in Adair Co. Adair Co. Fair: Pageant schedule announced Adair Co. Fair: Floral Hall starts Wednesday Prescription glasses found in Green River Lake Thank you from Bliss Club Bliss Club is collecting supplies for GRAS Multiple Boil Water Advisories issued Adair County 4-H & Cloverbud Floral Hall Exhibits Sheep & Goat Parasite Workshop for Adair Co. farmers View even more articles in topic News |
 
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