Kentucky Employment

Beginning of article

Kentucky's labor market conditions stand out among the Fourth District states. Indeed, its December unemployment rate of 4.5% was the lowest in the District and almost a full percentage point below the U.S. average; by that measure, Kentucky outperformed the nation throughout 2004. However, it failed to keep up with U.S. employment growth over the same period. Last year, employment in Kentucky grew by 0.8%, compared to the nation's 1.7% increase. And from the last business cycle peak in March 2001, Kentucky lost 0.8% of its employment, while the nation saw a slight gain.

U.S. employment finally surpassed the March 2001 business cycle peak this January, ending the longest …