3.8% July Unemployment Rate Lowest Since 2001!

According to the Local Area Unemployment Statistics Program, Lexington’s July unemployment rate (the most recent available) was 3.8%, the lowest July unemployment rate since 2001! (When looking at the unemployment rate over long periods of time, it’s a good idea to use the same month over time to avoid seasonal fluctuations.)

July2016 Unemployment

Lexington’s unemployment rate remained steady between 4.1% and 4.8% during 2002 through 2007, averaging 4.4% before spiking in July 2009, similar to other regions’ unemployment rates throughout the nation during that time due to the recession. Since then, the unemployment rate has generally decreased by about 1 percentage point every year. Last year represented a return to pre-recession levels, reinforced by this year’s even lower July unemployment rate.

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