Kentucky’s unemployment rate falls to 5 percent
Kentucky’s unemployment rate fell to 5 percent in September for the first time in 14 years.
Nationally, the unemployment rate remained at 5.1 percent according to the U.S. Department of Labor. Kentucky’s rate dropped from 5.2 percent in August.
Kentucky’s civilian labor force lost 11,369 people in September. Employment was down by more than 7,800. But the number of unemployed also decreased by more than 3,500.
Manoj Shanker, an economist with the Office of Employment and Training, noted Kentucky’s labor force is shrinking as the state has a larger proportion of retirement-aged people than the national average. But Shanker noted Kentucky’s labor market has improved, outperforming the national average in 13 out of the last 14 months.
Shanker also noted Kentuckians’ average weekly earnings have increased at more than twice the rate from last year.