Kentucky Unemployment Report for March 2024 released
Republished from WEKU.
The Kentucky Education and Labor Cabinet released its March 2024 unemployment report.
The Kentucky Center for Statistics, an agency within the Kentucky Education and Labor Cabinet, found the unemployment rate for March at 4.5%. The commonwealth’s rate of unemployment went up by 0.1% compared to last month and up 0.5% from a year ago.
This report gathers information from the Current Population Survey of households that measures trends in the number of people working, including jobs in agriculture, and those self-employed.
The states civilian labor force in March 2024 was 2,027,717 increasing by 3,147 individuals from last month. Both the number of employed and unemployed people increased this month.
Mike Clark, Ph.D is Director of University of Kentucky’s Center for Business and Economic Research. He said, “The increase in the labor force represents only one month but does reverse the gradual decline Kentucky has experienced over the past few months.”
Based on the report, Kentucky posted its strongest month to month employment gains since early 2023.
Employment and unemployment levels are seasonally adjusted in Kentucky. These adjustments help to eliminate influences and make observations of statistical trends easier.
Magoffin County in Eastern Kentucky has the highest unemployment rate at 11.9% while Woodford County in Central Kentucky has the lowest rate at 3.7%.
To learn more about Kentucky labor market information, visit https://kystats.ky.gov/
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Originally published by WEKU.
Republished with permission.
