Kentucky unemployment rate dropped in June, new statistics show
Kentucky’s seasonally adjusted preliminary June 2020 unemployment rate showed a decrease of 6.6 percent to 4.3 percent, according to the Kentucky Center for Statistics (KYSTATS), an agency within the Education and Workforce Development Cabinet (EWDC).
The new unemployment data shows the number of people employed in June increased by 28,536, while the number unemployed decreased by 137,600.
While the numbers appear to show improvement in the state amid the COVID-19 pandemic, University of Kentucky’s Center for Business and Economic Research Director Mike Clark said this data does not necessarily indicate Kentucky’s economy has returned to normal.
“The lower unemployment rate was driven primarily by a large number of unemployed workers who stopped looking for work. Employment did improve in June, but there were still approximately 158,000 fewer people employed in June than in February,” Clark said in the release.
Clark also stated while still significantly below normal, Kentucky’s payroll employment improved and job gains were seen as all major employment sectors added workers and “businesses continued to adjust their operations to prevent the spread of COVID-19 and recall their employees.”
As for the unemployment rates at the national level, the U.S. seasonally adjusted jobless rate for June was 11.1 percent, down from 13.3 percent in May 2020 according to the U.S. Department of Labor.