LOUISVILLE, Ky. (WDRB) -- Kentucky's unemployment rate increased in 2024.
The Kentucky Center for Statistics said the state's unemployment rate was 5.1% in 2024. That's an increase from 4.3% in 2023.
Nationally, the U.S. unemployment rate was 4% in 2024, an increase from 3.6% in 2023.
The U.S. Bureau of Labor Statistics estimated the number of employed Kentuckians was 1,987,643 in 2024. That was an increase of 19,393 from the year prior.
But the number of unemployed Kentuckians increased by 17,941 in 2024, an increase from 88,264 in 2023. There were 106,205 Kentuckians unemployed in 2024. That was 23,346 fewer people unemployed in 2024 than a decade ago.
According to a news release, Kentucky's civilian labor force increased to 2,093,848 in 2024. That's an increase of 37,339 from the prior year, which set a record.
Kentucky was one of 21 states to experience a statistically significant increase in annual unemployment from 2023 to 2024. Kentucky's unemployment rate for 2024 was higher than 47 states.
"The number of people employed in Kentucky grew by 1% from 2023 to 2024. However, the state saw people enter the labor force at a faster rate, which has contributed to an increase in the state’s unemployment rate," Mike Clark, University of Kentucky’s Center for Business and Economic Research, said in a news release. "Kentucky’s labor force growth rate of 1.8% was also considerably faster than growth in the national labor force, which increased by only 0.6% from 2023 to 2024."
According to a news release, in a federal survey that excludes jobs in agriculture and people who are self-employed, Kentucky's nonfarm annual average payroll employment in 2024 increased by 21,148.
"In total, Kentucky’s employers added workers to their payrolls in 2024," Clark said. "The commonwealth saw particularly strong job growth in its education and health care services, government, and construction sectors. However, these gains were partially offset by losses in professional and business services, information, and financial activities sectors."
According to a news release, the educational and health services sector expanded by 11,062 jobs in 2024.
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