Unemployment Rate Holds Steady in Garrard County Amid Statewide Fluctuations, According to KYSTATS July 2023 Report

The Kentucky Center for Statistics (KYSTATS), a division under the Kentucky Education and Labor Cabinet, released its comprehensive unemployment data for July 2023 on August 24, 2023. While unemployment rates have shown varied dynamics across the state, Garrard County has maintained a relatively steady figure. The county recorded a 4.4% unemployment rate in July 2023, unchanged from June 2023, and slightly up from 4.1% in July 2022.

According to the recent data, Garrard County has a total civilian labor force of 8,003 individuals, of which 7,647 are employed and 356 are unemployed. The unemployment rate has held steady at 4.4% over the past month and has only slightly increased when compared to the same month last year.

In contrast to Garrard County's relative stability, the state of Kentucky has seen a rise in unemployment rates in 98 counties, a fall in 17, and no change in five, including Garrard County. The unadjusted unemployment rate for Kentucky as a whole was reported at 4.6% for July 2023, while the national rate stood at 3.8%.

Woodford County reported the lowest unemployment rate in Kentucky at 3.5%. Martin County had the state's highest unemployment rate, recording a significant 10.5%.

KYSTATS notes that these figures are based on estimates and are intended to gauge trends rather than provide an exact count of employed and unemployed individuals. These statistics include non-military workers and those Kentuckians actively seeking work. However, they exclude individuals who have not sought employment within the past month. It is advised that this data should be compared only to the same month in prior years for accurate trend analysis.

Kentucky’s seasonally adjusted unemployment rate was made public on August 17, 2023. This adjustment helps to better understand statistical trends by accounting for seasonal variables such as weather changes, harvests, holidays, and school schedules.

For more information on labor market trends and unemployment rates in Kentucky, visit the official Kentucky labor market information website. Follow the Kentucky Education and Labor Cabinet on Facebook and Twitter for the latest updates.