Home » Unemployment rate drops 1.7% in November

Unemployment rate drops 1.7% in November

FRANKFORT, Ky. — Kentucky’s seasonally adjusted preliminary November 2020 unemployment rate was 5.6%, according to the Kentucky Center for Statistics, an agency within the Education and Workforce Development Cabinet (EWDC).

The preliminary November 2020 jobless rate was down 1.7 percentage points from October 2020 and up 1.3 percentage points from the 4.3% recorded for the state one year ago.

The U.S. seasonally adjusted jobless rate for November 2020 was 6.7%, down from 6.9% in October 2020, according to the U.S. Department of Labor.

Labor force statistics, including the unemployment rate, are based upon estimates from the current population survey of households. The survey is designed to measure trends in the number of people working and includes jobs in agriculture and individuals who are self-employed.

Kentucky’s civilian labor force was 1,998,601 in November 2020, an increase of 36,929 individuals from October 2020. The number of people employed in November increased by 67,391, while the number of unemployed decreased by 30,462.

Employment gains in sectors such as manufacturing, and transportation, warehousing, and utilities were offset by new losses in retail, and accommodations, and food services. While net employment continued to improve, November’s employment showed that several sectors still face significant challenges.

Kentucky’s statewide unemployment rate and employment levels are seasonally adjusted. Employment statistics undergo sharp fluctuations due to seasonal events, such as weather changes, harvests, holidays, and school openings and closings. Seasonal adjustments eliminate these influences and make it easier to observe statistical trends. However, due to the small sample size, county unemployment rates are not seasonally adjusted.