Quarterly report shows strong job growth, wages
LOUISVILLE, Ky. (Nov. 14, 2014) — Greater Louisville Metropolitan Statistical area (MSa) now has the lowest unemployment rate, the highest number of jobs, and the highest inflation-adjusted wages it has had since before the Great Recession.
That information was released in a quarterly report by KentuckianaWorks to provide a local perspective on the regional labor market and to provide relevant, current data about the job market, education/skills needed for in-demand jobs and wage data.
Louisville’s most recent unemployment rate from September 2014 (not seasonally adjusted) is 5.5 percent, down from 7.5 percent a year ago, according to the report. The Louisville MSa has added 8,884 new jobs since 2013, and 22,000 more people are working in the Louisville MSa now than in 2009. at the same time, Louisville’s average annual wages are increasing — $47,372 for the Louisville MSa in the most recent quarterly data, up more than $3,000 (adjusted for inflation) from the same quarter in 2010.
In the third quarter of 2014, the top 30 in-demand jobs in Louisville ranged from truck drivers to nurses and from applications developers to sales associates. typical annual pay for these jobs ranged from $17,875 to $84,867. Healthcare and sales/retail positions claimed the highest number of job postings, and registered nurse was the single occupation with the most online job postings — almost 2,000 postings in the last three months.
The best 30 jobs in Louisville (jobs with the highest online postings that pay at least a living wage of $36,795per year) were dominated by healthcare and information technology jobs. typical salaries ranged from $37,079-$150,121 per year. Most of these jobs required some type of post-secondary education.
The top five jobs above a living wage were registered nurses, CDL truck drivers, sales representatives, directors of nursing, and data analysts or network engineers.
From the industry cluster perspective, health enterprises and lifelong wellness and aging led the way, with thousands of job postings across all levels of education. The logistics and supply chain management industry cluster also had thousands of job postings last quarter. Perhaps more surprisingly, the information technology sector had robust numbers of job openings; however, those jobs are typically only available to people with an associate degree or higher.
The top skills requested by employers in online job postings reflected the dominance of healthcare and customer service in the Louisville (MSa) job market. The top three basic skills requested from employers were communication, organization and customer service. The top three specialized skills sought by employers were patient care, sales and scheduling.