The Southwestern Kentucky Economic Development Council Board of Directors heard a presentation concerning how to retain a workforce that will attract industries to the area.
Alex Sadler with the Tennessee Valley Authority says there’s a lot at work in the data when industries begin showing interest in a community, and they take into consideration a slew of items such as employment data, workforce data and if the communities near by can retain or attract a quality workforce. She says while unemployment rate is important, the workforce participation rate is even more so—and it has taken a dip since the pandemic, particularly in men between the ages of 25 and 54.
The region of Christian, Todd, Trigg and surrounding counties has a workforce participation rate of about 66 percent in that age group. Sadler says these days the jobs follow the worker—and workers are looking for quality communities to call home.
Executive Director Carter Hendricks says they recently conducted a wage and skill survey with local industries and they found that entry level positions are earning approximately $2 more than two years ago.
Sadler says there are many factors impacting workforce participation, from lack of childcare to inflation and increased cost of living, an uptick in freelance work, more people finding remote work, and numerous other reasons that they continue to track and project.