Tuesday, November 23, 2010

LHL Reports: Varied Industry Spared Fayette County from the Worst of the Recession

As Thanksgiving approaches, Lexington residents can give thanks for their health and well-being, of course, but also perhaps for their city's variety of employers.

As the recession pounded the state, nation and globe, Lexington felt it, too, but not as severely, observers have said, because of our variety of employers.

Consider these statistics provided by Ron Crouch, director of research and statistics for the state Office of Employment and Training. Lexington is less dependent on manufacturing, which has seen employment decline 27.1 percent statewide from 2001 to 2009. In Lexington, manufacturing employment is 8 percent of all employment, compared with 12.5 percent for the state. Also, the decline in manufacturing employment has not been as steep in Lexington, with just a 14.8 percent drop from 2001 to 2009.

Read more: http://www.kentucky.com/2010/11/22/1535548/varied-industry-spared-lexington.html?story_link=email_msg#ixzz167jJ8j7Q