FRANKFORT, Ky. (March 24, 2021) —Kentucky’s seasonally adjusted preliminary February 2022
unemployment rate was 4.2%, according to the Kentucky Center for Statistics
(KYSTATS), an agency within the Education and Workforce Development Cabinet
(EWDC).
The preliminary February 2022
jobless rate was down 0.2 percentage points from the 4.4% reported in January
2022 and down 0.5 percentage points from the 4.7% recorded for the state one
year ago.
The U.S. seasonally adjusted
jobless rate for February 2022 was 3.8%, down from the 4% reported in January
2022, 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
2,056,145 in February 2022, an increase of 2,088 individuals from January 2022.
The number of people employed in February increased by 6,434 to 1,969,746 while
the number of unemployed decreased by 4,346 to 86,399.
“Kentucky extended its recent labor
market gains in February with solid increases in the number of people
participating in the labor market and the number of people employed,” said University
of Kentucky’s Center for Business and Economic Research (CBER) Director Mike
Clark, Ph.D. “Despite the gains in labor force participation, Kentucky’s labor
market remains tight as employment increases outpaced increases in the labor
force at a rate of three to one. This pushed the state’s unemployment rate down
to 4.2%.”
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 rose by 11,500
jobs in February 2022 compared to January 2022. Kentucky’s nonfarm employment
was up 65,900 jobs or 3.5% compared to February 2021.
“Kentucky saw strong growth in
payroll employment across several of its major industrial sectors including
government; manufacturing; and trade, transportation and utilities,” said
Clark. “The Commonwealth has now recouped 94% of the 296,000 jobs lost during
the initial months of the pandemic.”
Nonfarm data is provided by the
Bureau of Labor Statistics’ Current Employment Statistics
program. According to the survey, employment increased for seven of
Kentucky’s 11 major nonfarm North American Industry Classification System
(NAICS) job sectors in February 2022 while three declined and one was
unchanged.
In the government sector,
employment was up by 3,200 jobs from January 2022 to February 2022. The gains
occurred in state government employment, which was up 4,000 jobs or 4.6% in
February. State government includes state agencies and state educational
services. Federal government employment decreased by 300 jobs and local
government employment fell by 500 jobs. Total government employment was up
10,600 positions or 3.6% compared to February 2021.
Kentucky’s manufacturing sector
bounced back in February, adding 3,100 jobs from January 2022 to February 2022.
This represents a gain of 1.3%. The durable goods subsector increased by 1,700
jobs or 1.1% from January to February. Employment in non-durable goods rose by
1,400 positions from January to February. Kentucky’s manufacturing employment
was down 900 positions or 0.4% since February 2021.
“After initially recovering many of
the jobs lost early in the pandemic, employment in non-durable goods
manufacturing actually declined again throughout most of 2021,” said Clark.
“However, February’s gains reversed this trend and put non-durable goods
manufacturing employment at its highest levels reported since the pandemic
began.”
The trade, transportation and
utilities sector grew by 2,200 positions from January 2022 to February 2022. Retail
trade employment was up 1,100 jobs in February. Wholesale trade lost 200
positions. Transportation, warehousing and utilities added 1,300 jobs. Since
February 2021, employment in this sector has increased by 15,600 jobs or 3.8%.
Employment in the professional and
business services sector increased by 2,000 jobs or 0.9% in February 2022.
Employment increased by 300 jobs in the professional, scientific and technical
services subsector and by 100 jobs in the management of companies subsector.
The administrative and support and waste management subsector gained 1,600
jobs. Employment in this sector was up 9,400 or 4.3% since February 2021.
Employment in Kentucky’s leisure
and hospitality sector grew by 1,600 positions from January 2022 to February
2022, a gain of 0.8%. This sector jumped by 23,800 jobs or 13.8% compared to
February 2021. The arts, entertainment and recreation subsector added 300
positions, and the accommodations and food services subsector added 1,300 jobs
in February.
The information services sector
gained 400 jobs from January to February. 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 up
by 1,500 or 7.4% from one year ago.
Employment in the financial
activities sector increased by 200 positions in February 2022. Employment in
the finance and insurance subsector was unchanged from January to February,
while employment in the real estate, rental and leasing subsector was up 200
jobs. Employment in the financial activities sector was up 100 jobs compared to
last February.
The number of jobs in Kentucky’s
mining and logging sector did not change from January 2022 to February 2022.
Employment in this sector was up 100 jobs compared to one year ago.
Kentucky’s educational and health
services sector declined by 300 jobs in February 2022. While the health care
and social assistance subsector added 100 positions from January to February,
the educational services subsector lost 400 jobs. Since last February, this
sector has increased by 4,400 jobs or 1.6%.
Employment in the other services
sector fell by 400 jobs in February 2022 but was up 700 positions since
February 2021. The other services sector includes repairs and maintenance,
personal care services, and religious organizations.
Construction employment dropped by
500 jobs in February 2022, or 0.6% from January. The construction sector was up
600 positions or 0.8% from one year ago.
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.
To learn more about Kentucky labor
market information, visit http://kystats.ky.gov/KYLMI.