Jobless rates dipped slightly in Floyd and surrounding counties from October to November, but are still far higher than they were a year ago and well ahead of the overall rate statewide.
The latest figures, released Dec. 26, show Floyd County with a 10.9 percent rate in November, down slightly from October’s 11.2 percent, but well ahead of the 8.8 percent figure reported in November 2011. The latest figure is also well ahead of the county’s five-year average of 9.4 percent and 10-year average of 8.4 percent, as well as the state’s current rate of 7.6 percent.
Although more people were employed and fewer were unemployed, the primary reason for the decline was a drop in the number of people in the labor force. While the number of people counted as unemployed dropped by 49, there were only nine additions to the total number of people working in Floyd County, leaving 40 people no longer considered in the job market.
Around the region, other counties reported similar drops in the unemployment, with only Pike County seeing its rate remain unchanged from month to month, at 9.3 percent.
Johnson County continued to have the lowest unemployment rate in the region, at 8.9 percent, down just a tenth of a point from the previous month and up only slightly from November 2011’s 8.6 percent.
Magoffin County continued to have the region’s highest unemployment rate, at 15.1 percent. That was an improvement from October’s 15.5 percent, but is still ahead of the 14 percent rate posted in November 2011.
Knott County showed a 13 percent rate in November, down half a point, while Martin County posted a 10.2 percent rate, down from 10.9 a month ago. The two counties were at 10.4 percent and 9.3 percent, respectively, a year ago.