Kentucky’s preliminary March unemployment rate at 4%, down from February

FRANKFORT, Ky. (WBKO) —Kentucky’s seasonally adjusted preliminary March unemployment price was 4%, in response to the Kentucky Middle for Statistics, an company inside the Schooling and Workforce Improvement Cupboard.

The preliminary March jobless price was down 0.2 share factors from the 4.2% reported in February and down 0.7 share factors from the 4.7% recorded for the state one yr in the past.

The U.S. seasonally adjusted jobless price for March was 3.6%, down from the three.8% reported in February , in response to the U.S. Division of Labor.

Kentucky’s civilian labor pressure was 2,060,065 in March 2022, a rise of three,980 people from February 2022. The variety of individuals employed in March elevated by 8,351 to 1,977,936 whereas the variety of unemployed decreased by 4,371 to 82,129.

“March supplied one other constructive labor market report for the Commonwealth,” mentioned College of Kentucky’s Middle for Enterprise and Financial Analysis Director Mike Clark, Ph.D. “Kentucky noticed enhancements in its labor pressure participation price and the quantity of people that have been employed. With employment persevering with to develop quicker than the labor pressure, fewer employees reported that they have been unemployed. These good points allowed Kentucky’s unemployment price to return to the historic low that was set simply earlier than the pandemic.”

To be taught extra about Kentucky labor market data, go to http://kystats.ky.gov/KYLMI.

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