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2005 Kentucky employments shows ironies: Bad unemployment, record 2000s job gain For year 2005, Kentucky's unemployment was 6.1%, up from 5.5 for 2004 By Kim Saylor Brannock (502) 564-6606 ext. 130 KimS.Brannock@ky.gov FRANKFORT, Ky. (March 2, 2006) - Kentuckys annual unemployment rate went up from 5.5 percent in 2004 to 6.1 percent in 2005, but at the same time Kentuckys employment recorded a net gain of 26,800 jobs, a record increase since 2000, according to the Office of Employment and Training (OET) in the Department for Workforce Investment. U.S. unemployment decreased in year The U.S. unemployment rate decreased from 5.5 percent in 2004 to 5.1 percent in 2005. Unemployment rates declined in 39 states and the District of Columbia from 2004 to 2005. Hawaii posted the lowest 2005 annual jobless rate in the country at 2.8 percent, while Mississippi had the highest annual rate at 7.9 percent. Eighteen states, including Kentucky, and the District of Columbia had higher annual unemployment rates than the U.S. annual rate in 2005, while 31 states were lower than the nation and one state had the same unemployment rate in 2005. Unusual year for state labor market Its been an unusual year for Kentuckys labor market. Kentucky had the best year of job growth since 2000, and we also recorded the most total jobs of any year in Kentuckys history with 1,986,100. But, the states annual unemployment rate went up .6 percentage point from 2004 to 2005. That has been the story throughout 2005 - more jobs coupled with rising unemployment producing an increasing unemployment rate, said Carlos Cracraft, chief labor market analyst in the OET, an agency of the Education Cabinet. A probable explanation is that many unemployed individuals who had not looked for work in awhile felt encouraged by the improvement in the economy and resumed their job search activities, Cracraft said. In addition to adding employment in 2005, Kentucky employment has jumped by 182,600 jobs in the last 10 years, he said. Kentucky tied with Oregon for 7th highest Kentuckys 6.1 percent unemployment rate in 2005 ranked it as tied it with Oregon as the seventh highest of the 50 states and the District of Columbia. Even though the unemployment rate increased in Kentucky from 2004 to 2005, it was still below the 6.2 percent recorded for Kentucky in 2003, Cracraft said. Ten of Kentuckys 13 job sectors listed in the North American Industry Classification System (NAICS) showed employment growth in 2005. Kentuckys professional and business services, a sector that includes professional, scientific and technical services, management of companies, and administrative and support management, had the largest growth in 2005 with 9,000 more jobs. This category also includes temporary help agencies that provide workers to other businesses on a contractual basis. In the last 10 years, the sector has ballooned by 39,900 jobs. Temporary help industry grew by 9,900 jobs The temporary help industry supplies labor to all industries, so movement in this area is a good indication of what is happening across the labor market. In the last two years, the temporary help industry has grown by 9,900 jobs after three consecutive no-growth years as a result of the 2001 recession. Businesses often hire temporary employees to keep pace with demand before hiring permanent workers. This practice ensures that an increased demand is long lasting before investing in permanent hires, Cracraft said. The trade, transportation and utilities sector added 4,600 jobs in 2005 and 30,400 over the past 10 years. It is the largest Kentucky sector with a total of 378,100 jobs. Within the sector, transportation and warehousing increased by 2,700 jobs, retail trade was up by 1,200, wholesale trade rose by 500, and utilities remained at the 2004 level. Within retail trade, general merchandise stores added 1,500 jobs. The majority of the 2,700 jobs gained in transportation and warehousing in 2005 was concentrated in warehousing and storage (+1,400) and truck transportation (+700). Both trucking and warehousing and wholesale trade recorded job gains 2,500. Trucking activity is often considered a cyclical indicator because employment fluctuations reflect the demand for goods, Cracraft said. Educational and health services jumped by 4,200 jobs in 2005 and has surged by 56,700 in the last 10 years. Within this sector, health care and social assistance industries, such as hospitals, nursing and residential care facilities and social assistance in the sector, added 4,100 jobs in 2005 and has contributed 44,300 jobs in the past 10 years. Educational services in this sector include employees at private elementary, secondary and post-secondary schools along with other establishments that provide instruction and training. Kentuckys leisure and hospitality sector shot up by 4,200 positions in 2005 and 24,700 in the last decade. Within the sector are arts, entertainment and recreation, and accommodation and food services. The food services and drinking places category recorded the majority of the gain in this sector both in 2005 (+3,300) and since 1995 (+21,300). Within the leisure and hospitality sector, the accommodation sub-sector added 500 jobs in 2005, revealing an increase in business and leisure travel for the first time since 2000, said Cracraft. The government and public education sector showed an increase of 3,170 jobs in 2005. Within the sector, local government (+1,400), local education (+1,000) and state education (+900) added the most jobs in the sector in 2005. In the last 10 years, the sector has increased by 26,900 positions. The natural resources and mining sector increased by 1,700 jobs in 2005 but decreased by 4,000 jobs since 1995. Coal mining makes up about 75 percent of this sector. Other industries included in the sector are agriculture, forestry, fishing and hunting; oil and gas extraction; and support activities for mining. Coal mining jobs on the rise Coal mining employment has been on the rise since April 2004, but prior to the last two years it had been waning, Cracraft said. Higher prices for oil plus a generally robust economy have fueled higher prices for other energy commodities, such as coal. While coal is not a substitute for gasoline, coal-fired power plants owned by utilities and large factories are being used to meet some of nation's the energy needs in place of imported oil. From April 2004 to January 2006, coal prices increased more than 21 percent reflecting higher demand and the need for more labor to mine this increasingly valuable resource. Construction adds 1,100 The construction sector recorded 1,100 new jobs from 2004 to 2005. The sector has gained 10,700 jobs in the last 10 years. This sector had its best year of job growth since 1999. The continuing low interest rates and strong housing market have resulted in employment gains in the construction sector over the past two years, Cracraft said. Financial activities, a sector that includes finance and insurance, and real estate, rental and leasing, jumped by 600 positions in 2005. In the last 10 years, the sector has expanded by 15,900 positions. The category of domestics, self-employed and unpaid family workers went up by 300 jobs in 2005. In the last decade, the sector has added 8,400 positions. The information sector, which includes establishments that create, disseminate or provide the means to distribute information, reported 100 more jobs in 2005 and 1,600 more jobs in the last 10 years. On the negative side, the manufacturing sector lost 1,400 jobs in 2005 for a total of 262,200 positions in that sector. Manufacturing sector declines for 5th straight year The manufacturing sector declined for the fifth consecutive year in 2005 although the pace of job losses has slowed significantly in the last two years. While durable goods manufacturing went up by 1,500 jobs from 2004 to 2005, nondurable jobs fell by 2,900 in 2005. Most of that loss comes in the apparel industry (-1,600) and plastics and rubber products manufacturing (-700). Over the last decade, Kentuckys manufacturing sector has shrunk by 36,400 jobs with 21,200 of that coming in the apparel industry, Cracraft said. Within the manufacturing sector in 2005, durable goods manufacturing employment gains were most notable in transportation equipment manufacturing (+1,500), machinery manufacturing (+600) jobs, and wood products manufacturing (+300) and fabricated metals (+300). Other services, a sector that includes repair and maintenance; personal and laundry services; and religious, civic, professional organizations fell by 1,100 jobs in 2005 but it has gained 16,700 jobs since 1995. Agriculture jobs decrease by 200 in 2005 In the agriculture sector, jobs decreased by 200 in 2005. This sector has fallen by 8,900 jobs in the past decade. This job sector includes those persons whose primary job is agricultural and do not have a job in another job sector, Cracraft said. Unemployment statistics are based on estimates and are compiled to measure trends rather than actually to count people working. Civilian labor force statistics include non-military workers and unemployed Kentuckians who are actively seeking work. Learn more about the Office of Employment and Training at www.workforce.ky.gov. This story was posted on 2006-03-02 09:30:07
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