Kentucky unemployment rate declines in February
FRANKFORT, Ky. (March 27, 2002) - Kentucky's unemployment rate dipped from
a revised 6.4 percent in January to 6 percent in February
ccording to the Department for Employment Services, a Cabinet for Workforce
Development agency.
Kentucky's February 2002 jobless rate was above the February 2001 rate
of 5.7 percent. The U.S. jobless rate fell from 6.3 percent in January
to 6.1 percent in February.
"A monthly survey of business establishments revealed that in February
Kentucky's employment increased by a net of 5,500. This is the first
time in three years that the unemployment rate has decreased from January
to February," said Carlos Cracraft, the department's chief labor market analyst.
Three of the nine major job sectors had employment increases in February,
Cracraft said. The government sector had the highest job increase in February
with 8,000 more positions.
Cracraft said most of this growth (7,700) was due to education employees returning
to work after winter break. The services sector had the second highest gain
with 1,800 more jobs in February. Jobs in educational services (500), amusement
and recreational services (500), social services (400), personal services
(400), and hotels and other lodging places (300) rose while the business
services category fell (-300).
The construction sector started its seasonal employment increase
for this time of year with
1,200 more jobs in February. Jobs in the special trade category, general
building contractors and heavy construction all rose in February.
The mining and quarrying sector had 20,200 positions in both January
and February 2002, but 1,000 more jobs than in February 2001. "For
the first time in many years, the bituminous coal mining industry has added
employment," said Cracraft.
Agriculture was down by 2,900 jobs in February
because of winter weather but jobs should increase in the spring.
In February the manufacturing sector continued its downward path,
as a total of 1,500 jobs were lost. The durable goods category fell
by 900 in February while nondurable goods manufacturing declined by a total
of 600 positions.
"From February 2001 to February 2002, manufacturing employment fell from
314,400 to 299,500 marking the first time in almost eight years that manufacturing
employment has slipped below 300,000," said Cracraft.
The trade sector reported a loss of 600 jobs in February. "Within
retail trade, eating and drinking establishments gained 900 jobs in February
but that was more than offset by losses in areas such as apparel and
accessories, miscellaneous retail businesses and food stores. Most of the
losses followed normal seasonal patterns of an after holiday retail slowdown,"
Cracraft said.
The transportation, communications and utilities sector recorded
300 fewer positions in February 2002. Over the last year, the sector has
lost 2,700 jobs mostly
in transportation (-1,700).
The finance, insurance and real estate sector had 200 fewer jobs in
February.
The U.S. Bureau of Labor Statistics monthly estimate of the number of employed
Kentuckians for February 2002 was 1,852,185. This figure is up 264
from the 1,851,921 employed in January 2002, and up 12,426 from the 1,839,759
Kentuckians employed in February 2001.
The monthly
estimate of the number of unemployed Kentuckians for February 2002 was 118,316.
This figure is down 8,678 from the 126,994 unemployed in January 2002, but
up 6,751 from the 111,565 Kentuckians unemployed in February 2001.
The monthly
estimate of the number of Kentuckians in the civilian labor force for February
2002 was 1,970,501. This figure is down 8,414 from the 1,978,915 recorded
in January 2002, but up 19,177 from the 1,951,324 recorded for February
2001. The civilian
labor force includes non-military workers and unemployed Kentuckians who
are actively seeking work. It does not include unemployed Kentuckians
who have not looked for employment within the past four weeks.
Employment
and unemployment statistics are based on estimates. They are compiled
to indicate employment trends rather than actually to count numbers of
people who are or are not working.
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