Overall unemployment rate moved down to 3.3% with the biggest shift in Government, which lost 2,400 roles, based on the most recently available information published in August 2022.
Total employment in the Lexington-Fayette, KY market rose by 2,473 jobs in July and the unemployment rate decreased compared to the prior month by 20 bps to 3.3%. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Lexington-Fayette, KY unemployment rate is 48 bps below the national rate which is a positive sign.
- Unemployment in the market is 100 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) declined in July versus prior month by -1.1% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.2%. Key sectors include:
- Transportation & Utilities: 51,300; +700
- Government: 50,400; -2,400
- Business Services: 39,600; no change
- Education & Healthcare: 36,700; +100
- Restaurants & Hotels: 33,700; +600
- Manufacturing: 28,400; +100
- Construction, Mining: 13,800; +500
- Other Jobs: 11,200; -200
- Financial Services: 10,900; no change
- IT & Development: 2,900; no change
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.