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Ky Unemployment

Ky Unemployment

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Kentucky's unemployment rate jumped to 10.9 percent in June, hitting a near 26-year high as the state lost a total of 5,800 jobs, the Kentucky Education and Workforce Development Cabinet said today."The manufacturing sector suffered the largest employment decline, which is indicative of the prolonged manufacturing slump rippling through the economy.

Retrenchment by consumers trickled through the trade, transportation and utilities sector," said Justine Detzel, the cabinet's chief labor market analyst.The rate is the highest since August 1983, when Kentucky unemployment was 11.1 percent.

In addition, the rate is up from 10.7 percent in May and 6.4 percent in June 2008.

In the past year, Kentucky employers have shed 82,300 jobs.The national jobless rate for June was 9.5 percentOhio's rate and the rates of other states nationally will be released Friday."This marks the 16th month in a row of year-over-year employment decreases and the second largest year-over-year drop on records dating back to January 1990," Detzel said in a release.

"Since the start of the recession in December 2007, non-farm employment in Kentucky has dropped by 98,200 positions."Manufacturing was hardest hit, losing 3,100 jobs, followed by trade, transportation and utilities, which was down 1,700 jobs.

Education and health services gained 1,200 jobs for the month, while financial services gained 700 positions.
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