UK Gatton College of Business and Economics
 

CBER in the News

Kentucky's unemployment rate reaches 15.4 percent in April

22 May 2020 - Jillianne Moncrief (WPSD)

FRANKFORT, KY — Kentucky's April 2020 unemployment rate was 15.4 percent, according to the Kentucky Center for Statistics which is an  agency within the Education and Workforce Development Cabinet. 

The education cabinet says the preliminary April jobless rate was up to.2 percent points from March and up 11.1 percent points from the 4.3 percent recorded for the state in April 2019. 

The U.S. jobless rate for April 2020 was 14.7 percent, up from 4.4 percent in March, according to the U.S. Department of Labor. 

Education and Workforce Development Cabinet releases April 2020 unemployment report

21 May 2020 - WBKO News Staff

FRANKFORT, Ky. (WBKO) -- Kentucky’s seasonally adjusted preliminary April 2020 unemployment rate was 15.4 percent, according to the Kentucky Center for Statistics (KYSTATS), an agency within the Education and Workforce Development Cabinet (EWDC).

The preliminary April 2020 jobless rate was up 10.2 percentage points from March 2020 and up 11.1 percentage points from the 4.3 percent recorded for the state in April 2019.

The coronavirus pandemic has put 1 in 3 Kentuckians out of work — the worst in the nation

8 May 2020 - Ben Tobin (Louisville Courier-Journal)

The coronavirus pandemic has put a bigger share of Kentucky's workforce out of a job than any other state in America, new unemployment figures show.

More than 670,000 Kentuckians — roughly one-third of the commonwealth's workforce — filed for unemployment insurance for the first time from the week ending March 14 through the week ending May 2.

More people are out of work in Kentucky than live in all of Louisville.

Kentucky has nation's highest jobless rate, three estimators say

11 May 2020 - The Sentinel Echo (London, KY)

By three separate estimates, the coronavirus pandemic has given Kentucky the worst unemployment rate in the nation.

Fitch Ratings, which issues credit opinions on governments and other borrowers, said in a report Thursday that unemployment claims as a percentage of the labor force in Kentucky have totaled about 33 percent, the highest among the states.

Unemployment From the Coronavirus Varies Dramatically Between States, Analysis Finds

11 May 2020 - Kate Elizabeth Queram (Route Fifty)

The percentage of each state's workforce filing for unemployment as a result of the pandemic ranges between 8% to 33%, largely depending on the industries that drive local economies.

Nearly a third of the workforce in Kentucky, Georgia and Hawaii filed for unemployment as a result of the coronavirus pandemic, according to an analysis by credit rating agency Fitch Ratings.

AS MITCH MCCONNELL SUGGESTS STATE BANKRUPTCIES OVER BAILOUTS, KENTUCKY HAS LARGEST SHARE OF UNEMPLOYED IN U.S

11 May 2020 - Brian Kirk (Newsweek)

The largest share of unemployment claims filed in the U.S. during the COVID-19 pandemic is in the state of Kentucky, where more than 671,000 workers, nearly a third of the state's labor force, have sought jobless benefits since the start of the COVID-19 pandemic in the U.S.

The U.S. Department of Labor released its weekly claims report on May 7, indicating that nearly 33 percent of Kentucky's workforce has filed for unemployment benefits in April.

Why unemployment claims are so much higher in Kentucky, Hawaii and Georgia

8 May 2020 - Alicia Wallace (CNN Business)

During the past seven weeks, more than 30% of the March labor force in Kentucky, Hawaii and Georgia filed initial claims for unemployment benefits.

They're the three hardest-hit states in the nation, yet their employment landscapes have been rocked in unique ways.

Kentucky

Department of Labor data released Thursday showed 671,288 Kentuckians filed initial claims for jobless benefits during the last seven weeks. That's equal to about 32.7% of Kentucky's labor force in March.

Unemployment claims highest in Kentucky, two other states

8 May 2020 - WVLT (Knoxville, TN)

Three states have been hit particularly hard when it comes to the unemployment crisis amid the COVID-19 pandemic.

According to CNN, more than 30 percent of the March labor force in Kentucky, Hawaii and Georgia filed initial claims for unemployment benefits.

The Department of Labor said Thursday 671,288 Kentuckians have filed initials claims for unemployment during the last seven weeks. That's about 33 percent of the state's March labor force.

Kentucky's economic future could be challenging post-coronavirus

6 May 2020 - John Charlton (WHAS11-ABC)

LOUISVILLE, Ky. — Kentucky is living in the now when it comes to COVID-19, but predicting what happens next is a difficult thing.

The state is approaching 600,000 unemployment claims, and paying them out to keep people going is certain to affect the state’s bottom line. That, as well as a huge hit to income tax and sales tax revenue.

“The income that people earn makes up a significant portion of both state and local tax revenues,” Dr. Mike Clark, an economist at the University of Kentucky, said.

3 Millennial Stocks to Consider Buying Now

30 April 2020 - Laura Hoy, InvestorPlace Contributor

Millennials often find themselves as the butt of the joke, but in today’s stock market, they’re the group that will have the last laugh. Since Boomers have a much shorter investment timeline, they have to make stressful buying and selling decisions. Meanwhile millennial stocks are far easier to come by.