Thu August 23, 2012
Jobless Rates Increase in Kentucky in July, But Decline in Many Counties for the Year
The Kentucky Office of Employment and Training says jobless rates across the Bluegrass State have declined in the past year in 97 counties. However, the jobless rate increased last month to 8.3 percent. The figures are an indication of the uncertain outlook for employment.
State officials say unemployment rates fell in 97 counties between July of 2011 and July of this year, despite the fact that the jobless rate increased in the past month. Woodford County has the lowest jobless rate in Kentucky at 5.9 percent, while Magoffin County has the highest jobless rate, at 16.7 percent.
Earlier this week the Congressional Budget Office predicted that unemployment in the U.S. could reach 9.2 percent in 2013, unless Congress takes steps to address some expiring tax breaks, such as the temporary payroll tax cut. The CBO says the economy is on track to grow by only 1.1 percent next year, which is significantly below the average growth rate recorded by the U.S. economy in the past sixty years.
The unemployment statistics compiled by the Kentucky Office of Employment and Training are based on estimates and are compiled to measure trends, not actual numbers of people working. Civilian labor force statistics include unemployed Kentuckians who are actively seeking work and non-military workers.