(The Center Square) – For the first time in nearly a year, Kentucky’s monthly unemployment rate pushed up to 4%. That’s according to preliminary data released Thursday by the Kentucky Center for Statistics.
The data shows the state’s labor force for August fell by more than 3,800 people compared to July. People employed dropped by nearly 6,700 over the same time frame.
Kentucky also saw an increase in the unemployment rolls by 2,836, bringing the total number of people out of work but actively searching to 81,966.
The state’s total workforce is nearly 2.1 million, and the number of workers with jobs is nearly 33,000 away from 2 million.
Nationally, the unemployment rate for August was 3.8%, an increase of three-tenths of a percent. While Kentucky’s August rate was higher, it jumped by only a tenth of a point from July.
Unemployment last hit 4% from August to October of last year. That’s still a very low number historically for Kentucky. A decade ago, the unemployment was 8%, according to data from the U.S. Bureau of Labor Statistics. The rate last reached 5% in April 2017.
KYSTATS, which is part of the Kentucky Education and Labor Cabinet, did note that a federal survey of businesses, which excludes farm jobs and those considered to be self-employed, found the number of non-farm jobs rose in the state by 8,300 last month.
“While the household survey suggests that the tight labor market we’ve experienced over the past couple of years might have eased in recent months, the employer survey for August indicates that businesses are still hiring,” said Clark. “Payroll employment has increased by 6,000 per month so far this year, which compares favorably to the average of 1,700 jobs per month added from 2010 to 2019.”
Job sectors that reported the most month-to-month growth were the government, construction and hospitality. Public sector jobs at the local, state and federal level grew by 3,300 in August. A 3,800-job increase at the local level helped offset the loss of 700 positions at the state level.
The number of construction jobs rose by 2.5% from July to August. There were 2,200 new jobs last month, and 7,700 have been created in the sector over the past year.
Hospitality businesses reported adding 1,300 jobs last month, representing a .7% increase from July. Over the past year, businesses in the sector have added 4,300 positions.
