Kentucky unemployment rate drops to 7.4 percent in June

FRANKFORT — Kentucky's unemployment rate for June dropped to 7.4 percent from a revised 7.7 percent in May, according to the state Office of Employment and Training.

The preliminary June jobless rate was 1 percentage point below the 8.4 percent rate recorded for the state in June 2013.

The U.S. seasonally adjusted jobless rate fell to 6.1 percent in June from 6.3 percent a month ago, according to the U.S. Department of Labor.

In June, Kentucky's civilian labor force was 2,050,841, a decrease of 11,845 people compared to the previous month. Employment was down by 6,163, and the number of unemployed declined by 5,682.

"Labor force participation has been on the decline in both Kentucky and the nation," said Manoj Shanker of the employment and training office. "The strongest driver for people leaving the labor force is demographics and an upsurge in the stock market. As their portfolios recover, more and more people are choosing to retire."

This story was originally published July 17, 2014 at 11:40 AM with the headline "Kentucky unemployment rate drops to 7.4 percent in June."