Frankfort: Kentucky’s preliminary September 2015 unemployment rate fell to 5 percent from 5.2 percent in August 2015, according to the Office of Employment and Training, an agency of the Kentucky Education and Workforce Development Cabinet. Kentucky’s jobless rate had not been that low in more than 14 years.
The state rate in September 2015 was 0.8 percent below the 5.8 percent rate recorded in September 2014.
Meanwhile, the number of Americans submitting applications for jobless benefits unexpectedly declined last week to match the fewest in four decades.
Initial unemployment claims dropped by 7,000 to 255,000 in the week ended Oct. 10, a Labor Department report showed Thursday. The median forecast of economists surveyed by Bloomberg called for 270,000 applications. The decline brought the monthly average to its lowest level since December 1973.
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“These numbers are pretty impressive,” said Brian Jones, senior U.S. economist at Societe Generale in New York, who correctly projected the number of applications. “Both the initial and continuing claims numbers are consistent with the fact that we have a labor market that’s fairly tight and continues to improve.”