Business and the Economy
Kentucky Unemployment Ticks Up
Kentucky’s unemployment rate experienced an uptick from April to May. It rose two-tenths of a percent, going from seven point nine percent in April to eight point one percent in May. The preliminary May jobless rate was still down slightly from a year ago. State economist Manoj Shanker said “The Kentucky labor market has softened, but hasn’t lost momentum. Unfortunately, not all of the new entrants into the labor force were able to find jobs in May, causing the unemployment rate to rise slightly.”
Shanker went on to say the state is adding jobs, but the pace has slowed.