Economic Data for Kentucky

Gross Domestic Product

Real GDP (a measure of economic growth) has been increasing since 2009 from the most recent low of $156 billion. It has grown to $174 billion by 2017, higher than pre-recession levels of $163.75 billion.

 

Jobs

Private-sector employers have added 400,000 jobs since 2010, the national low point for private-sector employment. From 2017 to 2018 the private sector has lost approximately 20,000 net new jobs for a total of 1,610,000, putting it above the pre-recession high of 1,540,000 total jobs. Average hourly wages in the private sector have grown since 2008, going from $17.75/hr to $22/hr in 2018.

 

Manufacturing employment has been declining since 2000, especially during the 2008 recession, but has been growing since then. There are 250,000 jobs in this sector in 2018, the same as pre-recession levels. Average hourly wages of production employees have increased since 2008, going from $17/hr to approximately $20.50/hr in 2018.

 

There were 110,000 jobs in the Trade, Transportation and Utilities sector in 2018, 28,000 jobs above its 2010 low, showing growth in this sector. The average wage in Transportation and Material Moving occupations has grown from $15.25/hr in 2008 to $21/hr 2018.

 

Unemployment

The unemployment rate in 2018 is 4%, down from the prior year’s 5% rate. This is slightly above the national average of 3.9% unemployment.

 

Housing

The House Price Index, a measure of the cost of housing, stagnated after 2008 until 2013 when it grew from 285 in 2013 to 340 in 2018.

 

Louisville-Jefferson County

Gross Domestic Product

 

Jobs

Private-Sector

 

Manufacturing

 

Transportation, Warehousing and Utilities

 

Unemployment

 

Housing