UK Gatton College of Business and Economics
 

CBER in the News

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.

Looking for work - Washington County sees jump in unemployment numbers for March

29 April 2020 - The Springfield Sun

Officially, Washington County saw an increase of greater than 1 percentage point from the previous month in its unemployment rate for March. The increase, from 3.7% to 4.8%, means that approximately 67 more Washington Countians were looking for work in March than in February, according to the official count.

The numbers could be misleading, however, Springfield-Washington County Economic Development Authority Director Daniel Carney said.

Kentucky Economist Michael Clark talks COVID-19 impacts

20 April 2020 - Maggie Davis (WLEX)

TONIGHT! We'll chat with Kentucky economist Michael Clark about the impact Coronavirus could have on the local economy. What would a COVID-19 induced recession look like on a global scale and on a statewide scale? What advice would he give to the average Kentuckian who is concerned about the state of their financials? CHECK IT OUT!

Watch full interview HERE.

Kentucky unemployment rate rises 1.6 percent in March; jobless rate 5.8 percent in wake of COVID-19

19 April 2020 (Northern KY Tribune)

Kentucky’s seasonally adjusted preliminary March 2020 unemployment rate was 5.8 percent, according to the Kentucky Center for Statistics (KYSTATS), an agency within the Education and Workforce Development Cabinet (EWDC).

Unemployment skyrockets as more workers furloughed

17 April 2020 - Tammy Shaw (The Sentinel-News)

Unemployment is shooting upward across the nation, the commonwealth and the county due to measures to stem the flow of the novel coronavirus.

Although official Kentucky numbers lag, those released Thursday morning show the state’s preliminary unemployment rate for March 2020 at 5.8 percent, up 1.6 points from February and 1.6 points from March 2019.

But these preliminary numbers come with some confusion.

About 400,000 Kentuckians filed for unemployment over past month due to COVID-19 woes

16 April 2020 - Ben Tobin (Louisville Courier Journal)

Roughly 116,000 Kentuckians filed for unemployment last week as part of the roughly 5.25-million Americans to submit new jobless claims who are feeling the economic woes spurred by the coronavirus pandemic.

With the 115,763 Kentuckians in Thursday's U.S. Department of Labor report, close to 400,000 residents from the commonwealth, or about 20% of the workforce, have filed for unemployment over the past four weeks.

Poll: Most Americans face financial hardship, but confidence in recovery remains

9 April 2020 - Stephen Loiaconi (WJLA)

WASHINGTON (Sinclair Broadcast Group) — As federal officials and members of Congress weigh further steps to bolster the economy against the ramifications of the coronavirus outbreak, economists and the public remain hopeful the nation’s financial health can be mostly restored once the public health crisis has passed.