Economy

The Kentucky Education and Workforce Development Cabinet  says jobless rates declined in 114 of the state’s counties from January of last year to January of 2012. State officials say Woodford County had the lowest unemployment rate in the state, at 6.9 percent. Webster, Fayette, Union, Oldham, and Henderson Counties are among those listed with relatively low rates, ranging from 7.2 to 7.9 percent.

A compromise to help employers avoid high federal unemployment insurance taxes has easily cleared a House committee. The proposal would allow Kentucky to borrow money from a bank or other organization to repay federal loans. Kentucky borrowed nearly one billion dollars from the federal government to pay for unemployment insurance during the recession.

The Office of State Budget Director Mary Lassiter says General Fund Receipts in the bluegrass state increased 3.8 percent in February, compared to February of 2011. Total revenues topped 574 million dollars, compared to just under 553 million dollars for the same month last year.