Monthly Jobs Snapshot | Louisville metro regains all 42,000 jobs lost during recession
Labor market far from healed, unemployment still high
Date Published: 8/22/2013
By Chris Otts
In the painfully slow recovery from the recession, Louisville has reached something of a milestone: The 13-county metro area has finally regained all 42,000 jobs lost during the 2007-09 downturn. It only took five years and five months.
The Louisville-Southern Indiana area had 627,500 jobs as of July --- finally eclipsing our pre-recession peak of 626,600 jobs in February 2008, when the long downturn began locally, according to seasonally adjusted figures from the U.S. Department of Labor.
Of course, just because we have the same number of jobs as in 2008 does not mean the labor market is fully healed --- far from it. The metro-area unemployment rate remains elevated at 8.2 percent, with about 53,000 people unable to find work in the area, according tofigures released Thursday by the Kentucky Office of Employment & Training.
Still, Louisville is closing the job gap faster than the nation as a whole, which still has 2 million jobs to regain in getting back to pre-recession employment.
The following figures, from economist Manoj Shanker of the state OET, break down Louisville's growth in the last 12 months by industry. Manufacturing has been the real bright spot, healthcare has continued its steady growth and service industries like restaurants and hotels have grown in the last year.
Return to News