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Career and Education Opportunities for Actuaries in Kentucky

Kentucky has a population of 4,314,113, which has grown by 6.74% in the last 10 years. Nicknamed the "Bluegrass State," its capital is Frankfort, though its most populous city is Lexington-Fayette.

The national trend for actuaries sees this job pool growing by about 21.4% over the next eight years. In general, actuaries analyze statistical data, such as mortality, accident, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits.

The income of an actuary is about $34 per hour or $70,880 annually on average in Kentucky. In the U.S. as a whole, their income is about $40 per hour or $84,810 yearly on average. Earnings for actuaries are better than earnings in the general category of Statistics Analysis in Kentucky and better than general Statistics Analysis category earnings nationally. People working as actuaries can fill a number of jobs, such as: product development actuary, actuarial associate, and health actuary.

In 2008, there were a total of 2,442,252 jobs in Kentucky. The average annual income was $31,936 in 2008, up from $31,060 the preceding year. The unemployment rate in Kentucky was 10.5% in 2009, which has grown by 3.9% since the previous year. About 17.1% of Kentucky residents have college degrees, which is lower than the national average.

The top industries in Kentucky include tobacco product merchant wholesalers, alumina production, and couriers.

CITIES WITH Actuary OPPORTUNITIES IN Kentucky


JOB DESCRIPTION: Actuary

Actuary video from the State of New Jersey Dept. of Labor and Workforce Development

In general, actuaries analyze statistical data, such as mortality, accident, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. They also may ascertain premium rates required and cash reserves necessary to ensure payment of future benefits.

Every day, actuaries are expected to be able to deal with basic arithmetic problems. They need to articulate ideas and problems. It is also important that they read and understand documents and reports.

Similar jobs with educational opportunities in Kentucky include:

  • Operations Research Analyst. Formulate and apply mathematical modeling and other optimizing methods using a computer to develop and interpret information that assists management with decision making, policy formulation, or other managerial functions. May develop related software, service, or products. Frequently concentrates on collecting and analyzing data and developing decision support software. May develop and supply optimal time, cost, or logistics networks for program evaluation, review, or implementation.

LOCATION INFORMATION: Kentucky

Kentucky
Kentucky photo by Richard Hurt

Kentucky has a population of 4,314,113, which has grown by 6.74% over the past 10 years. Nicknamed the "Bluegrass State," its capital is Frankfort, though its biggest city is Lexington-Fayette. In 2008, there were a total of 2,442,252 jobs in Kentucky. The average annual income was $31,936 in 2008, up from $31,060 in 2007. The unemployment rate in Kentucky was 10.5% in 2009, which has grown by 3.9% since the previous year. About 17.1% of Kentucky residents have college degrees, which is lower than the national average.

The top industries in Kentucky include tobacco product merchant wholesalers, alumina production, and couriers.