Kentucky’s unemployment rate decreases in June
FRANKFORT — Kentucky’s seasonally adjusted unemployment rate fell from 5.5 percent in May 2007 to 5.4 percent in June 2007, according to the Office of Employment and Training (OET), an agency of the Kentucky Education Cabinet. June 2007’s jobless rate was lower than June 2006’s rate of 5.7 percent.
The U.S. seasonally adjusted jobless rate remained unchanged at 4.5 percent from May 2007 to June 2007, according to the U.S. Department of Labor.
Three of the 11 major nonfarm job North American Industry Classification System (NAICS) sectors reported employment increases in June, while seven decreased, and one was unchanged, according to OET. A decrease of 2,200 jobs in June 2007 brought Kentucky’s nonfarm employment to a seasonally adjusted total of 1,854,600. Since June 2006, Kentucky’s nonfarm employment has increased by 9,000.
According to the seasonally adjusted employment data, Kentucky’s professional and business services recorded the highest number of new jobs in any sector in June 2007 with 2,600. This area had 4,700 more employees in June 2007 than in June 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.
Educational and health services sector positions rose by 500 jobs in June 2007. Since last June, this segment has gained 3,500 jobs. This sector includes private and nonprofit establishments that provide either education and training, or health care and social assistance to their clients.
The natural resources and mining sector had 200 more jobs in June 2007 compared to May 2007. Since June 2006, the segment has risen by 500 jobs.
On the down side, the leisure and hospitality sector lost 1,700 jobs from May 2007 to June 2007. Since June 2006, employment in the sector has increased by 1,700 positions. The leisure and hospitality sector includes arts, entertainment, recreation, accommodations and food services and drinking places industries.
Kentucky’s trade, transportation and utilities sector recorded 1,500 fewer jobs in June 2007. This area includes retail and wholesale trade, transportation and utilities businesses, and warehousing, and is the largest sector in Kentucky with 380,600 employees. Since June 2006, the number of jobs in this sector has decreased by 300.
The government sector, which includes public education, had a drop of 1,000 jobs in June 2007. Since June 2006, this sector has added 600 jobs.
The construction sector declined by 400 jobs in June 2007. Since June 2006, employment in this job area has gone up by 1,500.
Jobs in the manufacturing sector fell by 400 in June 2007. Compared to June 2006, jobs in the sector were down by 5,500 in June 2007.
The information sector went down by 400 positions in June 2007. This segment, which includes firms involved in publishing, Internet activities and broadcasting and news syndication, had 400 more jobs in June 2007 than in June last year.
The financial activities sector reported 100 fewer jobs in June 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.
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, had the same number of jobs in May 2007 and June 2007. This area had 200 more jobs in June 2007 than last June.
The U.S. Bureau of Labor Statistics’ monthly estimate of the number of employed Kentuckians for June 2007 was 1,942,596 on a seasonally adjusted basis. This figure is down 2,925 from the 1,945,521 employed in May 2007, but up 21,214 from the 1,921,382 employed in June 2006.
The monthly estimate of the number of unemployed Kentuckians for June 2007 was 111,348, down 1,126 from the 112,474 Kentuckians unemployed in May 2007, and down 5,639 from the 116,987 unemployed in June 2006.
The monthly estimate of the number of Kentuckians in the civilian labor force for June 2007 was 2,053,944. This figure is down 4,051 from the 2,057,995 recorded in May 2007, but up 15,575 from the 2,038,369 recorded for June 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.