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.
The cost of gasoline is having an impact on the lives of people across the state and nation, but experts say it can be very hard to determine why prices seem to fluctuate so quickly. Dr. Brian Goff is an economist with WKU's Center for Applied Economics. He says many consumers are unaware of the influence inventories can have on the price at the pump.
WKU Economics Professor Brian Strow says the slow growth rate of the U.S. Economy is a troubling sign. The B.B.&T Chair for the Study of Capitalism at Western Kentucky University says the economy should be growing at a significantly higher rate at this point.
Unemployment rates moved higher in 44 out of 50 states last month. The Associated Press reports that is the highest number of states to show an increase in unemployment in more than three years. Analysts say the numbers reflect weak hiring activity across the United States.
Tennessee-based FedEx will offer buyouts to U.S. employees in an effort to cut costs in a troubled economy. Company officials indicate that the majority of those offered buyout packages will be staff employees at FedEx Express and FedEx Services. The Memphis-based company says it hasn't decided how many employees it needs to cut.
A report released by State Budget Director Mary Lassiter reveals that receipts from both the state's sales and income taxes declined in July. Lassiter says she still expects the state to meet projections of modest revenue growth over the remainder of the new fiscal year, despite declines in general fund revenue for three of the past four months.
Tennessee is launching a toll-free hotline for homeowners who are either in—or on the brink of—foreclosure. The Tennessean reports the hotline is open from 8 a.m. to 5 p.m. central time, Mondays through Fridays.
Delta Airlines is shutting down its 35 year old carrier known as Comair, effective at the end of September. Delta says it is switching to larger jets and has sent termination notices to employees, including some 700 who live in Kentucky.
Kentucky’s Justice Cabinet secretary says a 2011 law meant to reduce state prison costs is producing mixed results. Secretary J. Michael Brown says arrests are down and in its first year in action, and less convicts passed through state prisons.