New state numbers show the Commonwealth’s August jobless rates have dropped compared to a year ago. It sits at 5.2 percent, just under August 2014’s 6 percent.
Kentucky Office of Employment and Training’s Manoj Shanker said in a statement that the state labor market is the best it’s been in more than a decade.
“The unemployment rate has been hovering at around 5 percent for most of the year, and that is as close to full employment as we can go without triggering higher inflation,” Shanker said.
According to the U.S. Bureau of Labor Statistics, mining and logging is the only sector to have declined over the year, losing 1,800 jobs. The educational and health services sector gained the most at 10,400.
“The health care and social assistance subsector accounts for one out of every eight jobs in Kentucky. This sub-sector added 1,400 positions during the month, but expanded by 9,100 from a year ago. Aging baby boomers and expanded Medicaid continue to drive up employment in health services,” Shanker said.
The national jobless rate is 5.1 percent.
