Kentucky’s annual unemployment rate fell to 5.4 percent in 2015 from 6.5 percent in 2014, while nonfarm employment gained 27,700 jobs, according to the Office of Employment and Training (OET), an agency of the Kentucky Education and Workforce Development Cabinet.
It was the lowest annual jobless rate for the state since 2007 when it was also 5.4 percent.
“At 5.4 percent, Kentucky’s unemployment rate has reached the pre-recession low last seen in 2007,” said economist Manoj Shanker of OET. “The job market hit a historical high in 2015 with nonfarm employment rising to almost 1.9 million.
“In spite of these gains, there is undoubtedly room for improvement,” he added. “Kentucky has a low labor force participation rate, which at 53.7 percent, ranks us at 47th in the nation.” Read More