Kansas Unemployment Rate
The purpose of the unemployment rate in the United States is to calculate the number of jobless workers in comparison to the entire labor pool as a whole. This jobless rate fluctuates on a monthly basis depending on a few factors, including job growth, job loss and how many workers enter and leave the labor force. The unemployment rate is important to keep an eye out for a variety of reasons. The unemployment rate is an indicator of a flourishing or a floundering economy. Also, the jobless rate is a way for the government to monitor budgetary limits and allowances for each state, such as the unemployment insurance program. The Bureau of Labor Statistics has determined that the term “unemployed” represents the percentage of the labor force who have lost their jobs or are without work even on a temporary or even part-time basis. That number of workers documented is then divided by the total amount of labor workers and then multiple by 100. This number is the statistical representation of the jobless rate for each state or the nation as a whole.
What is the unemployment rate in Kansas?
To answer the question “What is the unemployment rate in Kansas?” as of May 2017 the rate is 3.7 percent. This jobless rate is below the national average of 4.3 percent, as well as down from the peak point in 2009 of 7.3 percent. The unemployment rate in Kansas has been in a steady decline since the recession and has been practically cut in half since 2009. In fact, this time last year, the unemployment rate in Kansas was at 4.2 percent. This goes to show that just within a year’s time, major strides have been made within the Kansas employment sector. Unemployment insurance claims, too, are at an all-time low in Kansas.
For those struggling with unemployment or finding difficulty in maintaining employment in Kansas, there are options to help. Unemployment insurance benefits are a way to receive temporary wage assistance in between jobs. Each state has its own unemployment benefits requirements, so it is important to be familiar with the eligibility requirements prior to the application.