January 25, 2022
Summary
Kentucky added 8,300 net payroll jobs and the unemployment rate fell by 0.2 percentage point to 3.9 percent in December, according to Bureau of Labor Statistics (BLS) data released at 10:00am on January 25, 2022.
Over the past twelve months, Kentucky added 61,500 payroll jobs and the unemployment rate fell by 1.7 percentage points from 5.6 percent.
In December, Kentucky’s private sector added 8,800 net private payroll jobs and over the past twelve months it added 51,800 private payroll jobs in the establishment survey.
In the household survey, the number of unemployed fell by 2,854 on net in December, and over the past year employment rose by 51,960.
Kentucky’s labor force participation rate rose to 56.8 percent in December from 56.7 percent. Since last year, the labor force participation rate rose by 0.3 percentage point.
The national unemployment rate fell by 0.3 percentage point in December to 3.9 percent. State employment and unemployment data for January is scheduled for release March 14, 2022. The national employment situation report for January will be released February 04, 2022.
Kentucky Payroll Employment
Kentucky added 8,300 net payroll jobs, or 0.4 percent, on a seasonally adjusted basis during December. In the prior month, Kentucky added 6,900 jobs. Over the past twelve months, Kentucky added 61,500 payroll jobs, or 3.3 percent. Kentucky nonfarm payroll employment had increased in 9 of the past 12 months.
Nationally, nonfarm payrolls rose by 199,000 in December, or rose by 0.1 percent. Over the 12-month period ending with December, nonfarm payrolls rose by 6,448,000 jobs, or 4.5 percent. Kentucky is tied for 26th among the 50 states and the District of Columbia for percentage gain in nonfarm payroll employment over the past 12 months.
During December, Kentucky’s private-sector added 8,800 jobs, or approximately 0.6 percent. The private-sector in Kentucky added 6,100 jobs in the prior month. Over the past twelve months, private-sector payrolls in Kentucky added 51,800, or 3.3 percent. Kentucky private-sector payroll employment has increased in 10 of the past 12 months.
Nationally, private-sector payroll jobs rose by 211,000 jobs in December, or 0.2 percent. Over the past 12 months, the national payroll rose by 5,996,000 jobs in the private sector, or 5 percent. Kentucky is tied for 30th among the 50 states and the District of Columbia for a percentage gain in private-sector payroll employment over the past 12 months.
The best performing sectors on a seasonally adjusted basis during December were Leisure and Hospitality (4,400) and Construction (1,800). The poorest performing sectors during the month were Other Services (-400) and Government (-500).
The best performing sectors during the last twelve months were Leisure and Hospitality (20,700) and Trade, Transportation, and Utilities (11,400). The poorest performing sectors during the last twelve months were Mining and Logging (-500) and Professional and Business Services (-2,100).
Kentucky Labor Force Statistics
Labor Force Participation
The labor force participation rate in Kentucky rose to 56.8 percent in December from 56.7 percent in the prior month. At a labor force participation rate of 56.8 percent, Kentucky ranks 49th in the nation. The labor force participation rate in Kentucky rose by 0.3 percentage point from a year earlier. The labor force participation rate is the percentage of the civilian noninstitutionalized population age 16 and older who are employed or actively looking for work.
The 10-year high for the labor force participation rate in Kentucky was 61 percent last occurring in December 2012. The series high for the labor force participation rate in Kentucky last occurred in August 1999 when the labor force participation rate hit 63.7 percent. The 10-year low for the labor force participation rate was 56 percent in June 2020. This also represents the series low for the labor force participation rate in Kentucky.
The national labor force participation rate remained steady at 61.9 percent in December. That rate rose by 0.4 percentage point from a year earlier. The all-time high for the national labor force participation rate was 67.3 percent in April 2000. The 10-year high for the national labor force participation rate was 63.8 percent in October 2012. The recent 10-year low occurred in April 2020 at a level of 60.2 percent. The series low for the national labor force participation rate was 58.1 percent in December 1954.
Employment-to-Population Ratio
The employment-to-population ratio, or the percentage of the Kentucky civilian noninstitutionalized population 16 years and older counted as employed, in December rose to 54.6 from 54.4 percent in the prior month. At 54.6 percent, Kentucky ranks 48th among state employment-to-population ratios in the nation. The employment-to-population ratio in Kentucky rose by 1.3 percentage points from a year earlier.
The 10-year high for the employment-to-population ratio in Kentucky was 57.1 percent in November 2019. The series high for the employment-to-population ratio in Kentucky last occurred in April 2000 when the employment-to-population ratio hit 61 percent. The 10-year low for the employment-to-population ratio was 49.5 percent in April 2020. This also represents the series low for the employment-to-population ratio in Kentucky.
The national employment-to-population ratio rose by 0.2 percentage point over the month to 59.5 percent in December. That rate rose by 2.1 percentage points from a year earlier. The all-time high for the national employment-to-population rato was 64.7 percent in April 2000. The 10-year high for the national employment-to-population ratio was 61.2 percent in February 2020. The recent 10-year low occurred in April 2020 at a level of 51.3 percent. The series low for the employment-to-population ratio was 51.3 percent in April 2020.