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Editor’s Note: Preliminary October and revised September labor market information are included in this release.
October 2024 Unemployment Rate Chart
October 2024 Employment Chart
FRANKFORT, Ky. (Nov. 14, 2024) — Kentucky’s seasonally adjusted preliminary October 2024 unemployment rate was 5%, according to the Kentucky Center for Statistics (KYSTATS), an agency within the Kentucky Education and Labor Cabinet.
The preliminary October 2024 jobless rate was up 0.1 percentage points from September 2024 and up 0.7 percentage points from one year ago.
The U.S. seasonally adjusted jobless rate for October 2024 was 4.1%, which was unchanged from September 2024, according to the U.S. Department of Labor.
Labor force statistics, including the unemployment rate, are based upon estimates from the Current Population Survey of households. The survey is designed to measure trends in the number of people working and includes jobs in agriculture and individuals who are self-employed.
Kentucky’s civilian labor force was 2,075,061 in October 2024, an increase of 6,030 individuals from September 2024. The number of people employed in October increased by 4,631 to 1,972,065 while the number unemployed increased by 1,399 to 102,996.
“October marks the eighth consecutive month during which Kentucky saw both the number of people who were employed and in the labor force increase,” said University of Kentucky’s Center for Business and Economic Research (CBER) Director Mike Clark, Ph.D. “The state’s unemployment rate increased, but as noted in recent months, the increase was due to more people entering the labor market rather than fewer people working.”
In a separate federal survey of business establishments that excludes jobs in agriculture and people who are self-employed, Kentucky’s seasonally adjusted nonfarm employment decreased by 2,000 jobs to 2,043,900 in October 2024 compared to September 2024. Kentucky’s nonfarm employment was up 18,100 jobs or 0.9% compared to October 2023.
“While the household survey indicated more Kentucky residents were employed, the business survey indicated that the number of jobs at Kentucky’s business declined somewhat in October,” said Clark. “It is not uncommon for the two surveys to provide differing indications of employment in an individual month.”
Nonfarm data is provided by the Bureau of Labor Statistics’ Current Employment Statistics program. According to the survey, employment increased for four of Kentucky’s major nonfarm North American Industry Classification System (NAICS) job sectors in October 2024, decreased for five, and was unchanged for two.
Kentucky’s manufacturing sector rose by 1,400 jobs from September 2024 to October 2024. Employment was up by 1,200 in the durable goods manufacturing subsector and up by 200 jobs in the non-durable goods manufacturing subsector. Kentucky’s manufacturing employment was down 700 positions or 0.3% compared to October 2023.
The educational and health services sector increased by 1,000 positions in October 2024. Employment in the health care and social assistance subsector rose by 600 jobs from September to October. The educational services subsector added 400 jobs. Since last October, this sector has grown by 15,600 jobs or 5.1%.
The construction sector added 900 jobs from September 2024 to October 2024 and was up 1,800 positions or 2% from one year ago.
“In October, Kentucky’s construction employment recovered from the lower levels reported for August and September,” said Clark. “Construction activity and employment are more variable from month-to-month due in part to changes in weather.”
The other services sector was up by 100 jobs from September to October. This sector had 500 more positions in October 2024 compared to October 2023. This sector includes repairs and maintenance, personal care services and religious organizations.
Employment in Kentucky’s information services sector was unchanged from September to October. The industries in this sector include traditional publishing as well as software publishing; motion pictures and broadcasting; and telecommunications. The number of jobs in this sector was down 1,000 from one year ago.
The government sector employment did not change from September 2024 to October 2024. The number of jobs decreased by 200 jobs in federal government; was unchanged in state government; and increased by 200 jobs in local government. The total number of government jobs rose by 2,000 positions or 0.6% compared to October 2023.
The number of jobs in the state’s mining and logging sector fell by 100 jobs in October. This sector had 600 more jobs in October 2024 compared to October 2023.
Jobs in the financial activities sector fell by 300 positions from September 2024 to October 2024. Employment in the finance and insurance subsector was unchanged. Employment in the real estate, rental and leasing subsector was down by 300 jobs. This sector had 100 fewer positions compared to October 2023.
The leisure and hospitality sector lost 1,100 positions in October. This sector reported 800 more jobs in October than one year ago. The accommodations and food services subsector was down by 900 positions in October. The arts, entertainment and recreation subsector decreased by 200 jobs from September to October.
Employment in the trade, transportation and utilities sector declined by 1,200 positions from September to October and was down 800 jobs compared to a year ago. Among the subsectors, employment was up by 300 jobs in wholesale trade; down 800 jobs in retail trade; and down 700 positions in transportation, warehousing and utilities.
Kentucky’s professional and business services sector fell by 2,700 jobs in October 2024. From September to October, employment decreased by 800 jobs in the professional, scientific and technical services subsector; was unchanged in the management of companies subsector; and fell by 1,900 jobs in the administrative, support and waste management subsector. The sector was down 600 positions compared to October 2023.
“Employment in Kentucky’s administrative, support and waste management subsector has declined each of the past five months, which mirrors the national trend,” said Clark. “Much of the national decline is due to a reduction in the use of temporary help services.”
Civilian labor force statistics include nonmilitary workers and unemployed Kentuckians who are actively seeking work. They do not include unemployed Kentuckians who have not looked for employment within the past four weeks.
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, due to the small sample size, county unemployment rates are not seasonally adjusted.
Visit the Kentucky Center for Statistics website to learn more about Kentucky labor market information.
Follow the Kentucky Education and Labor Cabinet on Facebook and X (formerly known as Twitter) for the latest updates from the cabinet.
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