Overall unemployment rate moved up to 3.8% with the biggest shift in Transportation & Utilities, which lost 4,200 roles, based on the most recently available information published in March 2023.
Total employment in the Louisville/Jefferson County, KY-IN market declined by 21,319 jobs in January and the unemployment rate increased compared to the prior month by 110 bps to 3.8%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- Louisville/Jefferson County, KY-IN unemployment rate is 6 bps below the national rate which is a positive sign.
- Unemployment in the market is 30 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 4.5% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.8%. Key sectors include:
- Transportation & Utilities: 162,700; -4,200
- Education & Healthcare: 99,500; -1,600
- Business Services: 88,600; -100
- Manufacturing: 83,400; -2,200
- Government: 71,000; -1,100
- Restaurants & Hotels: 63,100; -1,100
- Financial Services: 45,800; -800
- Construction, Mining: 28,900; -1,000
- Other Jobs: 25,200; -100
- IT & Development: 8,900; no change
Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.