Kentucky's Jobless Rate Stays at 8.4%
Kentucky's manufacturing sector was flat last month, and the state's unemployment rate remained at 8.4% for the month of October, according to the Kentucky Education and Workforce Development Cabinet.
The preliminary October 2012 jobless rate for the Commonwealth is five-tenths of a percent higher than the national rate. Kentucky’s civilian workforce increased by 10,500 individuals and the state added about 10,300 jobs in October.
The educational and health service sector added 1,500 jobs, while the financial activities sector rose by 500 jobs. However, employment in the mining and logging sector dropped 600 jobs for the month, while the construction sector lost 1,400 jobs, as a backlog in the housing market continued to have an impact, according to the Education and Workforce Development Cabinet.
The trade, transportation, and utilities sector lost two thousand jobs last month in Kentucky. Analysts say that decline was caused by a contraction in retail sales employment.