Unemployment Reaches 6-Year Low

The local jobless shrank by more than half a percent last month, but remains higher than the statewide rate.

 

The State Department of Labor and Workforce Development say the April unemployment rate for the Kenai Peninsula Borough stood at 7.5 percent.  That compares to 8.2 percent in March, and is lower than last April when the unemployment stood at 8.7 percent.

 

The number of people without jobs on the Kenai Peninsula Borough shrank by 175 jobs between March and April, as the local workforce grew by 261 jobs in the same period.

 

Last month, state economists say that a total of 26,996 were employed in the local area, compared to 26,735 in March.

 

Statewide, the seasonally adjusted unemployment rate for April is 6 percent, slightly lower than the March rate of 6.2 percent.

 

Nationally, the unemployment rate was 7.5 percent for April.

 

The State Department of Labor says unemployment has been falling steadily since December of 2010 and is reaching pre-recession lows. The last time state unemployment was at 6 percent was in mid-2007.

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