Unemployment mostly unchanged from September

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FRANKFORT, Ky. (KT) - Kentucky’s seasonally adjusted preliminary October unemployment rate was 4.3 percent, according to the Kentucky Center for Statistics, down 0.1 percent from September and the same as October 2018.

The U.S. seasonally adjusted jobless rate for October was 3.6 percent, up 0.1 percentage points from the previous month, according to the U.S. Department of Labor.

“Kentucky experienced solid employment gains across most of its major sectors in October 2019,” said the University of Kentucky’s Center for Business and Economic Research Interim Director Mike Clark. “Losses were mainly concentrated in manufacturing, which can be partially attributed to the strike activity, and mining and logging.”

Gains were seen between September and October in the following categories:

--The professional and business services sector added 1,700 jobs.

--The leisure and hospitality sector grew by 1,600 positions.

--The educational and health services sector jumped by 1,100.

--Construction employment increased by 500 jobs.

--Kentucky’s trade, transportation and utilities sector rose by 400 jobs.

--Employment grew by 400 jobs in the other services sector. This includes repairs and maintenance, personal care services and religious organizations.

--The financial activities sector gained 200 jobs, entirely in the real estate, rental and leasing subsector.

On the downside:

--Employment in the information services sector fell by 100 jobs.

--The government sector decreased by 300 jobs.

--Kentucky’s manufacturing sector was fell 2,000 jobs. Durable goods manufacturing decreased by 2,400 jobs, while non-durable manufacturers added 400 jobs in September.

--The mining and logging sector dropped by 500 jobs.

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.

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