State tied for fifth in yearly decrease
FRANKFORT, Ky. (Nov. 21, 2014) — Kentucky’s unemployment rate decreased more from September to October than in any other state, according to a report from the U.S. Department of Labor’s Bureau of Labor Statistics (BLS).
Kentucky’s unemployment rate dropped from September to October from 6.7 percent to 6.2 percent, a decrease of 0.5 percent, 0.1 percent more than Colorado, Idaho, Missouri, and North Carolina.
Overall, 38 states saw an unemployment rate decrease in October, while unemployment rose in 12 states and Washington D.C.
Kentucky’s seasonally adjusted preliminary unemployment rate in October dropped to its lowest level in more than six years and was the single-biggest one month drop since 1976, when the current method was adopted, the Office of Employment and Training reported on Thursday.
The state’s unemployment rate also dropped 0.4 percent from August to September, for a 0.9 percent decrease over two months.
BLS also reports that Kentucky is tied for fifth among states this month in over-the-year decrease. The preliminary October 2014 jobless rate was 2 percentage points below the 8.2 percent rate recorded for the state in October 2013.