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Kentucky’s Unemployment Rate At Lowest Level Since 2000

unemployment, istockphoto

Kentucky’s unemployment rate has reached its lowest level since the year 2000.

According to the Kentucky Center for Education and Workforce Statistics on Monday, the rate dropped to 4.9% in 2017 from 5.1% in 2016.

Sectors that saw an increase include educational and health services, leisure, hospitality and manufacturing.

The educational and health services sector rose by 3,900 jobs in 2017. This growth was driven by the healthcare and social assistance subsector, which added roughly 3,800 jobs. Leisure and hospitality grew by 3,100 positions in 2017. Manufacturing increased by 1,900 jobs for 2017.

Sectors that declined include professional services, financial activities and the government.

Professional services declined by 1,900 jobs in 2017. 100 jobs were lost in the financial activities sector. The government sector, which includes federal, state and local employment in public education, public administration agencies and state-owned hospitals, cut 400 jobs within the last year.

In Kentucky over the past 10 years, healthcare facilities such as hospitals and nursing homes have expanded by more than 30,000 jobs whereas jobs in manufacturing have declined by more than 5,000. Professional services have also grown by more than 20,000 jobs in the past 10 years, but educational services have declined by 3,000 in the same period.

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