Economy

Kentucky lawmakers will be briefed this week on the state’s ailing coal severance tax fund.  The office of the state budget director will update lawmakers of the fund’s future on Wednesday during a regularly scheduled meeting of the interim committee on natural resources and environment. 

Effective September 1st, anyone claiming unemployment benefits in the state of Tennessee will be required to show that they are actively looking for work.  A work search log must be maintained to verify the job-seeking activity.

Kentucky lawmakers will be briefed next week on the state’s ailing coal severance tax fund. The office of the state budget director will update the lawmakers of the fund’s future on Wednesday, during a regularly scheduled meeting of the interim committee on natural resources and environment.

The General Assembly’s House Task Force on Foreclosures has been meeting this week in Frankfort, to get updated information on the national foreclosure situation  and its impact in Kentucky.

WKU Public Radio

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.

WKU Public Radio

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 Public Radio

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. 

FedEx

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.

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