Kentucky's Labor Market Numbers Returning To Prerecession Levels
FRANKFORT, Ky. - Kentucky’s labor market numbers are returning to prerecession levels. Office of Employment and Training economist Manoj Shanker says Kentucky is now adding about 58-hundred jobs each month. Shanker says one reason employers are hiring right now is because wages are low.
“Retail jobs and warehousing jobs have gone up. That’s because the wages have fallen a lot. So it doesn’t cost employers a lot to have people at the front lines working and selling things, especially during November and December,” Shanker says.
Kentucky’s November unemployment rate is 8-point-2 percent, down from 9-point-1 percent the same time last year. Shanker predicts as the state unemployment rate goes down, more people who had stopped looking for work will re-enter the job market.