Kentucky’s seasonally adjusted preliminary unemployment rate for February came in at 5.8 percent, remaining steady from the same revised rate in January but a half-point above last February’s rate of 5.3 percent, according to the state’s Office of Employment and Training (OET).
The seasonally adjusted unemployment rate for the United States in February was 4.9 percent, as reported by the U.S. Department of Labor.
Kentucky’s civilian labor force was 1,975,329 in February, an increase of 11,942 individuals as compared to the previous month. Employment increased by 11,814, and the number of unemployed increased by 128.
“Unemployment rates have increased in both January and February compared to a year ago,” said economist Manoj Shanker of the OET in a release. “The jump in the unemployment rate is almost paradoxical. As the job market improves, more and more people start entering the labor market in search of employment. The new entrants, however, may not have the skills necessary to land a job. During this period of job search, they are unemployed, and that drives up the unemployment rate.”
The labor force statistics, including unemployment rate, are based on estimates from the Current Population Survey of households and are designed to measure trends in the workforce rather than counting the actual number of individuals working. It includes agriculture jobs and those classified as self-employed.
A separate federal survey of business establishments excluding agriculture jobs and self-employment indicated that Kentucky’s non-farm employment increased by 400 jobs in February over the previous month and rose by 28,800 jobs since the same month last year.
In terms of specific sectors within Kentucky, the OET reported the following gains and losses:
• The educational and health services sector gained 3,800 positions in February, with an overall increase of 10,900 jobs, or more than 4 percent, from a year ago.
• The manufacturing sector lost 900 jobs in February as compared to the previous month, but overall manufacturing employment has increased by 4,100 since February 2015. The month-to-month decline was in the durable goods subsector, which was down by 1,900, while nondurable goods industries added 1,000 jobs.
• The mining and logging sector decreased by 300 jobs in February and has lost 3,200 positions, or nearly 21 percent, from a year ago.
• The construction sector gained 2,200 jobs in February from the previous month, posting an overall increase of 2,700 since February 2015.
• The government sector, including public education, public administration agencies and state-owned hospitals, fell by 1,300 positions in February and posted a loss of 5,000 jobs as compared to February 2015.
• The professional and business services sector lost 4,400 jobs in February as compared to the previous month, but posted an overall gain of 3,300 jobs year-over-year.
• The leisure and hospitality sector increased by 1,600 jobs in February, adding a total of 3,200 jobs since February 2015.
• The financial services sector fell by 300 jobs in February, but the sector has added 2,200 jobs, or 2.4 percent, since the same month last year.
• The information services sector remained flat in February as compared to the previous month. The sector, which includes traditional publishing, software publishing, motion pictures and broadcasting and telecommunications, has declined by 1,100 positions from a year ago.
• The sector that encompasses other services, including repair and maintenance, personal care services and religious organizations, increased by 300 in February, but fell by7 a total of 400 jobs since the same month last year.
Civilian labor force statistics include nonmilitary 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.
The OET is an agency of the Kentucky Education and Workforce Development Cabinet. For more information about the Office of Employment and Training, check the website at http://www.kylmi.ky.gov/.