Somerset, Kentucky 

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Economy in Somerset, Kentucky

Somerset has an unemployment rate of 5.7%. The US average is 5.2%.

Somerset has seen the job market decrease by -1.7% over the last year. Future job growth over the next ten years is predicted to be 31.0%, which is lower than the US average of 38.0%.

Tax Rates for Somerset
- The Sales Tax Rate for Somerset is 6.0%. The US average is 6.0%.
- The Income Tax Rate for Somerset is 6.8%. The US average is 4.6%.

Income and Salaries for Somerset
- The average income of a Somerset resident is $17,399 a year. The US average is $28,555 a year.
- The Median household income of a Somerset resident is $24,851 a year. The US average is $53,482 a year.

INCOME BY POPULATION PERCENT

Download .xls

  ECONOMYSomerset, KentuckyUnited States
  Unemployment Rate5.7%5.2%
  Recent Job Growth-1.7%1.6%
  Future Job Growth31.0%38.0%
  Sales Taxes6.0%6.0%
  Income Taxes0.0680.046
  Income per Cap.$17,399$28,555
  Household Income$24,851$53,482
  Family Median Income$32,313$65,443
  POPULATION BY OCCUPATION
  Agriculture, forestry, fishing, hunting0.3%1.3%
  Mining, quarrying, oil and gas extraction0.0%0.6%
  Construction5.5%6.2%
  Manufacturing6.6%10.4%
  Wholesale trade3.3%2.7%
  Retail trade13.9%11.6%
  Transportation and warehousing2.1%4.1%
  Utilities00
  Information2.3%2.1%
  Finance and insurance3.6%4.7%
  Real estate, rental, leasing0.7%1.9%
  Professional, scientific, technical services5.3%6.7%
  Management of companies0.4%0.1%
  Administrative, support, waste mgt svcs5.4%4.3%
  Educational services6.8%9.3%
  Health care and social assistance17.4%13.8%
  Arts, entertainment, recreation0.4%2.2%
  Accommodation, food services15.8%7.4%
  Other services4.5%4.9%
  Public administration5.1%4.8%
ECONOMY MAP
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    Reviews for Somerset    7 Reviews
    My Personal Observations - 10/10/2014
    There is certainly a small town atmosphere here. It seems as if there is a high percentage of the population that wants to get Somerset "on the map", but they want to do... Read More

    Start Your Review of Somerset


    honestly.... - 3/15/2010
    I have lived here since 1989. My family moved me here from Chicago Ill when I was 5 years old. Growing up in this place, I can tell you first hand what you children will... Read More

    Part 2: Greg's opinion - 9/4/2008
    I wanted to post facts on somerset on my previous post because sometimes on bestplaces.net it is just opinions and those can be misleading or one-sided. So I posted... Read More


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