Richmond KY Work Force
Labor market counties are composed of counties which significantly exist within the sixty (60) minute drive range of the originating county’s county seat. A county will be included within the radius if the centroid point of a county (a point representing the center of the geographic area of a county) falls within the drive zone. Additionally, all contiguous counties will be classified as part of the labor market with the exception of non-Kentucky contiguous counties which have been excluded by the above mentioned 60-minute drive range and have a border with the Mississippi and/or Ohio Rivers.
Total Available Labor |
| Available Labor, 2012 | Future Labor: Becoming 18 Years of Age (2014-2017) |
|||||
| Total | Unemployed | Potential Labor Supply | ||||
| Labor Market Area | 29,516 | 25,248 | 4,268 | 34,940 | ||
| Madison County | 3,050 | 3,050 | N/A | 4,009 | ||
| Source: U.S. Department of Labor, Bureau of Labor Statistics; Kentucky Cabinet for Economic Development (KCED); U.S. Department of Commerce, Bureau of the Census. Note: Total Available Labor = Unemployed + Potential Labor Supply. Unemployed – people currently not employed, but actively seeking work. Potential Labor Supply: Determined by the national labor force participation rate minus each county’s labor force participation rate. Labor force participation rates are calculated by dividing the labor force by the population. NA (Not Applicable) applies to counties with a labor force participation rate greater than the national average. Future Labor – people becoming 18 years of age (not part of the total available labor statistics). |
Civilian Labor Force |
| Madison County | Labor Market Area | |||||
| 2014 | Mar. 2016 | 2014 | Mar. 2016 | |||
| Civilian Labor Force | 44,889 | 44,668 | 363,532 | 360,777 | ||
| Employed | 42,465 | 42,624 | 343,559 | 343,610 | ||
| Unemployed | 2,424 | 2,044 | 19,973 | 17,167 | ||
| Unemployment Rate (%) | 5.4 | 4.6 | 5.5 | 4.8 | ||
| Source: U.S. Department of Labor, Bureau of Labor Statistics. |
Unemployment Rate (%) |
||
| Year | Madison County | Labor Market Area | Kentucky | U.S. | ||
| 2010 | 8.8 | 9.2 | 10.5 | 9.6 | ||
| 2011 | 7.7 | 8.5 | 9.5 | 8.9 | ||
| 2012 | 6.7 | 7.1 | 8.2 | 8.1 | ||
| 2013 | 6.8 | 7.1 | 8.3 | 7.4 | ||
| 2014 | 5.4 | 5.5 | 6.5 | 6.2 |
| Source: U.S. Department of Labor, Bureau of Labor Statistics. |
Commuting Patterns |
| Residents of Madison County | 2014 | Percent | ||
| Working and Residing In County | 15,366 | 45.9 | ||
| Commuting Out of County | 18,122 | 54.1 | ||
| Total Residents | 33,488 | 100.0 | ||
| Employees in Madison County | ||||
| Working and Residing In County | 15,366 | 46.3 | ||
| Commuting Into County | 17,835 | 53.7 | ||
| Total Employees | 33,201 | 100.0 | ||
| Source: U.S. Department of Commerce, Bureau of the Census. |
Average Weekly Wage, 2014 |
| Madison County | Kentucky (Statewide) | U.S. | Ohio | |||
| All Industries | $699 | $807 | $988 | $885 | ||
| Agriculture, Forestry, Fishing and Hunting | ND | 637 | 589 | 603 | ||
| Mining | ND | 1,322 | 1,964 | 1,352 | ||
| Construction | 848 | 960 | 1,058 | 1,039 | ||
| Manufacturing | 1,002 | 1,059 | 1,211 | 1,105 | ||
| Trade, Transportation, and Utilities | 510 | 732 | 827 | 765 | ||
| Information | 657 | 943 | 1,747 | 1,207 | ||
| Financial Activities | 700 | 1,122 | 1,640 | 1,226 | ||
| Services | 575 | 681 | 877 | 785 | ||
| Public Administration | 891 | 822 | 995 | 948 | ||
| Other | 442 | 568 | 667 | 554 | ||
| Indiana | Illinois | Tennessee | Virginia | |||
| All Industries | $1040 | $818 | $869 | $1018 | ||
| Agriculture, Forestry, Fishing and Hunting | 668 | 689 | 580 | 592 | ||
| Mining | 1,405 | 1,333 | 1,306 | 1,343 | ||
| Construction | 1,246 | 1,010 | 960 | 962 | ||
| Manufacturing | 1,267 | 1,109 | 1,083 | 1,086 | ||
| Trade, Transportation, and Utilities | 895 | 719 | 797 | 763 | ||
| Information | 1,492 | 1,051 | 1,188 | 1,742 | ||
| Financial Activities | 1,816 | 1,104 | 1,291 | 1,427 | ||
| Services | 922 | 682 | 780 | 1,026 | ||
| Public Administration | 1,019 | 798 | 855 | 1,048 | ||
| Other | 737 | 561 | 608 | 775 | ||
ND = Non-disclosed
Note: The average weekly wage in 2014 for Natural Resources and Mining (the combined sectors of agriculture and mining) was $852
Source: U.S. Department of Labor, Bureau of Labor Statistics.
*The above data was updated July 2016. For the most up-to-date information, check ThinkKentucky.com at: Work Force
Available Properties
Industrial News
- The Future is Bright for Madison County’s Workforce As New Factories Are Planned to Open Up
- ‘Continuing a long-term commitment’: RIDC receives $2,000 grant
- New City of Richmond App released
Richmond in the News
Richmond … at a Glance
Click Image to Expand
Upcoming Events
There are no upcoming events at this time.