Kentucky’s unemployment rate falls in August
Kentucky’s seasonally adjusted unemployment rate fell to 5.6 percent in August from 5.7 percent in July 2007, according to the Office of Employment and Training (OET), an agency of the Kentucky Education Cabinet. August 2007’s jobless rate also was below the 5.7 percent recorded in August 2006.
The U.S. seasonally adjusted jobless rate remained at 4.6 percent from July 2007 to August 2007, according to the U.S. Department of Labor.
Seven of the 11 major nonfarm job North American Industry Classification System (NAICS) sectors reported employment increases in August, while three decreased, and one was unchanged, according to OET. An increase of 300 jobs in August 2007 brought Kentucky’s nonfarm employment to a seasonally adjusted total of 1,853,700. Since August 2006, Kentucky’s nonfarm employment has increased by 7,400.
According to the seasonally adjusted employment data, the government sector, which includes public education, rose by 1,200 jobs in August 2007. Since August 2006, this sector has lost 2,100 jobs.
The leisure and hospitality sector gained 900 jobs in August 2007. Since August 2006, employment in the sector has increased by 1,600 positions. The leisure and hospitality sector includes arts, entertainment, recreation, accommodations and food services and drinking places industries.
Kentucky’s educational and health services sector rose by 600 jobs in August 2007. Since last August, this segment has gained 4,000 jobs. This sector includes private and nonprofit establishments that provide either education and training, or health care and social assistance to their clients.
Jobs in the professional and business services sector grew by 300 in August 2007. This area had 3,900 more employees in August 2007 than in August 2006. The professional and business services sector includes professional, scientific and technical services, and management of companies and administrative and support management, including temporary help agencies.
The construction sector had 300 more jobs in August 2007 than in July 2007. Since August 2006, employment in this job area has gone up by 2,800.
The information sector added 100 positions in August 2007. This segment, which includes firms involved in publishing, Internet activities, and broadcasting and news syndication, had 200 more jobs in August 2007 than a year ago.
The state’s other services sector, which includes such establishments as repair and maintenance places, personal and laundry services, religious organizations, and civic and professional organizations, gained 100 jobs in August 2007. This area had 300 more jobs in August 2007 than in August 2006.
Employment in the natural resources and mining sector stayed the same from July 2007 to August 2007. Since August 2006, the segment has risen by 500 jobs.
The number of jobs in the manufacturing sector dropped by 2,900 from July 2007 to August 2007. Compared to August 2006, jobs in the sector were down by 6,700 in August 2007.
The financial activities sector lost 200 jobs in August 2007. This segment, which includes businesses involved in finance, insurance, real estate and property leasing or rental, has added 1,700 jobs over the past 12 months.
Kentucky’s trade, transportation and utilities sector recorded 100 fewer jobs in August 2007. This area includes retail and wholesale trade, transportation and warehousing businesses, and utilities, and is the largest sector in Kentucky with 380,000 employees. Since August 2006, the number of jobs in this sector has increased by 1,200.
The U.S. Bureau of Labor Statistics’ monthly estimate of the number of employed Kentuckians for August 2007 was 1,935,817 on a seasonally adjusted basis. This figure is up 1,534 from the 1,934,283 employed in July 2007, and up 7,798 from the 1,928,019 employed in August 2006.
The monthly estimate of the number of unemployed Kentuckians for August 2007 was 115,780, down 1,308 from the 117,088 Kentuckians unemployed in July 2007, and down 92 from the 115,872 unemployed in August 2006.
The monthly estimate of the number of Kentuckians in the civilian labor force for August 2007 was 2,051,597. This figure is up 226 from the 2,051,371 recorded in July 2007, and up 7,706 from the 2,043,891 recorded for August 2006.
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. 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, because of the small sample size, county unemployment rates are not seasonally adjusted.
Learn more about the Office of Employment and Training at www.workforce.ky.gov.