State Revenue And Unemployment Up
Frankfort, KY – The official forecast for revenue for the coming two year state budget isn't as good as legislators or the Fletcher administration might like. But it's also not as bad as was projected just two months ago.
If the forecasts pan out, there could be a surplus approacjing $400 million for the current fiscal year that ends June 30th, 2006.
That should help ease the difficulty of putting together spending plans for fiscal 2007 when revenue growth of only $125 million is expected.
Officials are predicting a better fiscal year in 2008 when revenue should be around $325 million.
Meanwhile, Kentucky's unemployment rate is up again.
The November rate of 6.2% compares to 6.1% in October. It's well above the November 2004 rate of 4.7%. The U.S. jobless rate was steady in November at 5%.
Kentucky was one of 25 states that reported higher unemployment rates in November 2005 when compared to October 2005.
The monthly estimate of the number of unemployed Kentuckians for November 2005 was 126,065. That's up 2,087 from October 2005.