Kentucky Celebrates Lowest Annual Unemployment Rate in State History

Wednesday, March 8, 2023 at 10:15 AM

Despite the record low, Kentucky still had an unemployment rate higher than 33 states.

(Frankfort, Ky.) – Kentucky is boasting its lowest annual unemployment rate in state history.

Governor Andy Beshear announced this week that the jobless rate for 2022 finished at 3.9 percent, down from 4.4 percent in 2021.

That is the lowest rate Kentucky has had since the U.S. Bureau of Labor Statistics began reporting state unemployment rates in 1976.

The U.S. Bureau of Labor Statistics estimates the number of employed Kentuckians for 2022 was 1,968,121. That’s an increase of over 30,000 individuals from 2021.

The number of unemployed Kentuckians for 2022 was 79,945, down 9,683 from the previous year.

“With the lowest unemployment rate in our state’s history, we know more Kentuckians are chasing their dreams and providing for their families right here at home,” said Beshear.

Nationally, all 50 states experienced a decrease in their annual unemployment rates from 2021 to 2022. Kentucky’s rate was higher than 33 states, including Indiana, Missouri, Tennessee and Virginia, and lower than 13 states such as Illinois and Ohio.

The U.S. annual unemployment rate stands at 3.6 percent for 2022. That’s down from 5.3 percent in 2021.

For more information, visit https://www.bls.gov/.