BY EARNEST WINSTON
The Cincinnati Enquirer
COVINGTON -- About 5,000 private sector jobs were created in Northern Kentucky between September 1996 and 1997, figures released by the state show.
Also, the unemployment rate in Boone, Campbell and Kenton counties dropped from 4.1 to 2.8 percentbetween February 1997 and 1998, said Tom Zinn, the University of Cincinnati economist who compiled the statistics. The figures were released by the Cabinet for Workforce Development.
"That is a dramatic drop," said Mr. Zinn, adding that the rate likely won't continue at the same pace.
"I think that's going to bounce back up. The real reason for it is because we had a very, very mild winter. Blame it on El Nino," Mr. Zinn said.
The new jobs created in the private sector:
- Service-related jobs rose by 6.7 percent, or 2,038.
- Transportation, communications and utility-related jobs, increased by 12.8 percent, or 1,524.
- Manufacturing jobs grew by 3.4 percent, or 666.
- Wholesale and retail jobs increased 1.1 percent, or 423.
- Construction jobs increased 2.9 percent (197).
- Finance, insurance and real estate jobs increased by 1.3 percent (85).
"Just more and more solid growth. At this point, there really isn't any end in sight," Mr. Zinn said.
Mr. Zinn, who prepared the economic forecast for the Northern Kentucky Chamber of Commerce that was released in January, said the local economy has more jobs than people to fill them. He added that Northern Kentucky's economy will continue to grow this year, although not quite so fast as before.
In February, the statewide unemployment rate was 4.8 percent, the lowest recorded rate in 24 years, Ms. Hoover said.
And 4.6 percent of U.S. residents were unemployed in February, down from 5.3 percent this time last year.
