According to the Kentucky Center for Statistics (KYSTATS), Kentucky's preliminary seasonally adjusted unemployment rate for January 2024 was 4.3%.
The preliminary unemployment rate for January 2024 was unchanged from December 2023 and increased by 0.2 percentage points from a year ago.
The U.S. seasonally adjusted unemployment rate in January 2024 was 3.7%, also unchanged from December 2023, according to the U.S. Department of Labor.
Labor force statistics, including the unemployment rate, are based on estimates from the Household Current Population Survey. The survey aims to measure trends in the number of people working and includes farmers and the self-employed.
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Kentucky's civilian workforce in January 2024 was 2,023,947, down 1,222 from December 2023. In January, the number of employed people decreased by 1,580 to 1,936,885, and the number of unemployed rose by 358 to 87,062.
“There was little change in Kentucky's labor market from December to January,” said Dr. Mike Clark, director of the University of Kentucky Center for Business and Economic Research (CBER). “Household surveys show a slight decrease in the number of employed people in the labor force and a slight increase in the number of unemployed people looking for work. These changes are not large enough to move the state's unemployment rate, which is 4.3%. It was stable.”
A separate federal survey of establishments excluding agriculture and self-employed workers found that Kentucky's nonfarm payrolls (seasonally adjusted) increased by 2,300 people in January 2024 compared to December 2023. , 2,025,500 people. Kentucky's nonfarm payrolls increased by 20,100 people, or 1%. Comparison with January 2023.
“Our survey of employers showed that employers continued to hire additional employees in January, with the largest increases in leisure and hospitality, education and health services, and the government sector. The same goes for it,” Clark said.
Nonfarm data are provided by the Bureau of Labor Statistics' Current Employment Statistics Program. According to the study, in January 2024, five of Kentucky's major non-agricultural North American Industry Classification System (NAICS) employment sectors increased, five decreased, and one sector remained unchanged.
The leisure and hospitality sector increased by 1,700 jobs from December 2023 to January 2024, representing an increase of 0.8%. The sector reported hiring 2,300 more people in January than a year ago. In the accommodation and food service sector, the number of employees increased by 1,600 in January. The arts, entertainment and recreation sector added 100 jobs from December to January.
“Employment in the leisure and hospitality sector began to increase in January after being roughly flat for several months,” Clark said.
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The education and health services sector added 1,200 jobs in January 2024. Employment in the health and social assistance sector increased by 1,000 people from December to January. The education services sector added 200 jobs. Since January last year, employment in this sector has increased by 10,100 people, or 3.4%.
“The education and health care sectors continue to provide steady job growth for the commonwealth,” Clark said.
Government sector employment increased by 800 people from December 2023 to January 2024. Federal government employment increased by 100 people. 200 in the state government. 500 in local governments. Total government job openings increased by 8,400 positions, or 2.8%, compared to January 2023.
Employment in Kentucky's information services sector increased by 500 jobs from December to January. This sector of the industry includes traditional publishing as well as software publishing. movies and broadcasting. and telecommunications. Employment in this sector is down 200 compared to a year ago.
Kentucky's professional and business services sector added 500 jobs in January 2024, an increase of 0.2%. From December to January, employment increased by 100 jobs in the professional, scientific and technical services subsector and by 400 jobs in the administrative, support and waste management subsector. There was no change in employment in the business management subsector. Employment in the sector has decreased by 3,400 people (1.5%) since January 2023.
Employment in the state's mining and logging sector remained flat from December to January. Employment in this sector increased by 200 jobs compared to January 2023.
Kentucky's manufacturing sector lost 100 jobs from December 2023 to January 2024. The durable goods manufacturing subsector lost 600 jobs, but most of these losses were offset by an increase of 500 jobs in the nondurable goods subsector. Manufacturing employment in Kentucky increased by 3,600 positions, or 1.4%, compared to January 2023.
Employment in other services sectors fell by 300 jobs from December to January. The number of job openings in this sector increased by 1,600 in January 2024 compared to January 2023. This sector includes repair and maintenance, personal care services, and religious organizations.
Construction employment decreased by 400 people, or 0.4%, from December 2023 to January 2024, but increased by 2,100 people, or 2.4%, from a year ago.
Employment in the trade, transportation and utilities sector fell by 700 jobs from December to January, down 2,600 or 0.6% from a year earlier. Among the subsectors, wholesale trade lost 300 jobs, retail trade lost 100 jobs, and transportation, warehousing and utilities lost 500 jobs.
Kentucky's financial activities sector shrank by 900 jobs from December 2023 to January 2024 and by 2,000 jobs from January 2023. Employment decreased by 700 people in the finance and insurance subsector and by 200 people in the real estate, rental and leasing subsector.
Civilian labor force statistics include non-military workers and unemployed Kentuckians who are actively seeking employment. It does not include unemployed Kentuckians who have not looked for work in the past four weeks.
Kentucky's statewide unemployment rate and employment levels are seasonally adjusted. Employment statistics fluctuate significantly due to seasonal events such as weather changes, harvests, holidays, and school openings and closings. Seasonal adjustment eliminates these effects and makes it easier to observe statistical trends. However, due to small sample sizes, county unemployment rates are not seasonally adjusted.
For more Kentucky labor market information, visit the Kentucky Statistics Center website.
Kentucky Education and Labor Cabinet
