CBER in the News

(Herald Leader, 21 April 2018)

Unemployment in Kentucky is at the lowest rate ever recorded in the 42 years since the federal Bureau of Labor Statistics began providing the data.

The Kentucky Education and Workforce Development Cabinet said the state's seasonally adjusted unemployment in March was 4 percent, down from 5.2 percent a year earlier.

Nationally, unemployment in March stood at 4.1 percent, the same as it was in February. Kentucky's revised unemployment rate for February was 4.1 percent.

Identifying education as the most important factor affecting Kentucky’s economic future, the Center for Business and Economic Research (CBER) — the applied economic research branch of the Gatton College of Business and Economics at the University of Kentucky — released its 46th Kentucky Annual Economic Report today.

AP (19 January 2018)

FRANKFORT, Ky. (AP) — State officials say Kentucky ended last year with a drop in its unemployment rate.

The Kentucky Center for Education and Workforce Statistics says the seasonally adjusted preliminary rate in December was 4.4 percent. That's down from the 4.7 percent rate in November, and was lower than the 4.8 percent jobless rate across Kentucky in December 2016.

Kentucky's jobless rate last month was slightly above the 4.1 percent national rate.

The decision earlier this week to delay a vote on a financing piece of a planned soccer stadium development in Louisville’s Butchertown neighborhood will likely make time for skeptical city leaders to scrutinize the deal.

Louisville Mayor Greg Fischer said in a news release Tuesday the postponement would “give the Metro Council additional time for review.”

Kentucky’s seasonally adjusted preliminary July unemployment rate was 5.3 percent, up 0.2 percentage points from June, according to the Kentucky Center for Education and Workforce Statistics. The rate was 0.3 percentage points higher than a year ago.

“The household survey may suggest that Kentucky’s economy slowed somewhat this month but with a 5.3 percent unemployment rate, the state’s economy is still healthy,” said Chris Bollinger, Director of the University of Kentucky Center for Business and Economic Research.

The Hopkins County unemployment rate jumped to 5.6 percent in June, up from 4.9 percent in May.

However, the increase is likely due to the time of year rather than any significant change in employment, according to Mike Clark, associate director of the Center for Business and Economic Research at the University of Kentucky.

"What seems to be going on is just seasonality," Clark said, referring to how jobs in some industries, such as retail and construction, fluctuate depending on the time of year. "You really need to be looking at the trends over time."

Kentucky’s seasonally adjusted preliminary June unemployment rate was 5.1 percent, according to the Office of Employment and Training (OET), an agency of the Kentucky Education and Workforce Development Cabinet. The unemployment rate for June 2017 was up 0.1 percentage points from the 5 percent reported in May 2017.

The preliminary June 2017 jobless rate was up 0.1 percentage points from the 5 percent rate recorded for the state in June 2016.

In connection with National Infrastructure Week, today the Kentucky Chamber of Commerce released “A Citizen’s Guide to Kentucky Infrastructure” a report detailing the critical condition of much of the state’s infrastructure and suggested solutions to the issues facing the state.

Inequality—in both opportunity and outcome—is becoming the defining zeitgeist of our era. We typically think about inequality in the context of income, but equity and health also go hand-in-hand.

By Tom Martin

5 February 2017

A study by Oxford professors Michael Osborne and Carl Benedikt Frey estimates that 47 percent of jobs in the U.S. are at risk of being automated in the next 20 years. In his farewell speech, former President Obama spoke of the relentless pace of automation that is making good middle class jobs obsolete. Tom Martin talks about the implications of automation with Dr. Chris Bollinger, professor of economics and director of the Center of Business and Economic Research in the University of Kentucky’s Gatton College of Business and Economics.