New Insights from Kentucky’s December 2024 Unemployment Report: Key Highlights and Trends Unveiled by the Education and Labor Cabinet – NKyTribune

In December 2024, Kentucky’s unemployment rate was 5.2%. This figure, reported by the Kentucky Center for Statistics (KYSTATS), showed a slight rise of 0.1 percentage points compared to November and an increase of 0.9 percentage points from a year ago.

In comparison, the national unemployment rate for December 2024 was 4.1%, marking a decrease of 0.1 percentage points from the previous month, according to the U.S. Department of Labor.

The data on unemployment comes from a household survey that tracks trends in employment, including those in agriculture and self-employment. As of December 2024, Kentucky’s labor force reached 2,085,059, with an increase of 5,038 workers from November. While employment rose by 1,973 to 1,976,436, the number of unemployed people climbed by 3,065 to 108,623.

Mike Clark, Director of the University of Kentucky’s Center for Business and Economic Research, noted that although more people are finding jobs, the labor force is growing faster, contributing to the higher unemployment rate.

Looking at nonfarm employment, which excludes self-employed and agricultural workers, Kentucky saw an increase of 1,200 jobs in December, totaling 2,051,900. This reflects a year-over-year growth of 28,700 jobs, or 1.4%.

Throughout 2024, employment in Kentucky saw steady growth, with improvements in ten of the last twelve months. The educational and health services sectors added the most new jobs, while the trade, transportation, and utilities sector faced the most significant losses.

In December, the leisure and hospitality sector gained 2,400 positions, with a year-over-year rise of 3,900 jobs. The manufacturing sector also saw a small boost, adding 300 jobs over the month, with 200 of those in durable goods and 100 in non-durable goods manufacturing.

The construction industry added 100 jobs from November to December and reported a significant year-over-year increase of 4,300 jobs. The mining and logging sector saw a drop of 100 jobs in December, although it was still up by 400 jobs compared to the previous year.

In the financial activities sector, 200 jobs were lost, all within finance and insurance. The trade, transportation, and utilities sector decreased by 600 jobs month-over-month and 1,300 jobs compared to last year, despite some gains in wholesale and retail trade.

Professional and business services lost 600 jobs in December but still had 2,200 more positions compared to December 2023. The educational and health services sector experienced a decline of 700 jobs, primarily in healthcare and social assistance.

These unemployment statistics reflect only those actively seeking work, excluding those who have not looked for a job in the past month. Moreover, Kentucky’s seasonal adjustments help filter out normal fluctuations due to seasonal changes and events.

For further information about the labor market in Kentucky, you can explore the Kentucky Center for Statistics website. Keep up with updates from the Kentucky Education and Labor Cabinet on Facebook and X.

Kentucky Education and Labor Cabinet