floydcountytimes.com

Floyd unemployment rate continues climb

Ralph B. Davis
rdavis@civitasmedia.com

11 months 28 days 4 hours ago |249 Views | | | Email | Print

FRANKFORT — Figures released Thursday by the state Education and Workforce Cabinet show that the unemployment rate in Floyd County continues to inch upward, with May figures higher than the month before and a year ago.


Floyd County’s unemployment rate in May stood at 12.1 percent. That was higher than revised figures for April, which put the county at 11.5 percent, as well as the rate for May 2012, when the rate was 9.9 percent.


Every county in the Big Sandy Area Development District posted rates in the double digits, with all but one having lower rates than Floyd County. Johnson County had the lowest rate, at 10 percent, followed by Pike County, at 10.6 percent, and Martin County, at 11.5 percent.


Only Magoffin County fared worse in the ADD, posting the state’s highest unemployment rate at 17.5 percent. Neighboring Knott County, which is in the Kentucky River Area Development District, also fared worse than Floyd, with a rate of 14.9 percent.


Unemployment statistics are based on estimates and are compiled to measure trends rather than actually to count people working. Civilian labor force statistics include non-military workers and unemployed Kentuckians who are actively seeking work. They do not include unemployed Kentuckians who have not looked for employment within the past four weeks. The statistics in this news release are not seasonally adjusted because of the small sample size for each county. The data should only be compared to the same month in previous years.

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