economy

Economic Growth Picked Up Slightly In Third Quarter

Mark Memmott — Fri, 26 Oct 2012 13:56:51 +0000

The U.S. economy grew at a 2 percent annual rate in the third quarter, the Bureau of Economic Analysis says.

That follows growth (at annual rates) of 1.3 percent in the second quarter and 2 percent in the first.

At 2 percent, the third-quarter estimate is a bit better than the 1.8 percent that economists were expecting, Bloomberg News says.

Kentucky Unemployment Rate Stays Flat at 8.2 Percent

Gabe Bullard — Thu, 19 Jul 2012 16:09:00 +0000

The latest numbers show Kentucky's unemployment rate staying flat from May to June.

The Office of Employment and Training says the jobs rate remained at 8.2 percent, which matches the national jobless figure.

This ends a long trend of monthly declines in the unemployment rate. The rate was 8.8 at the beginning of this year, and 9.6 in June of last year.

First Data Will Lay Off 344 Workers in Louisville

Gabe Bullard — Fri, 22 Jun 2012 19:03:26 +0000

More than 300 Louisville call center workers will lose their jobs in the coming months.

Jobless Rate Drops in Most Counties but Rises Statewide

Gabe Bullard — Thu, 21 Jun 2012 18:47:08 +0000

Jobless rates have improved in 107 Kentucky counties, but not Jefferson.

The Kentucky Office of Employment and Training released the latest unemployment numbers today. They show Jefferson County's jobless rate jumping from 8.1 percent in April to 8.6 percent in May. Most counties in the Louisville area saw similar increases.

Louisville Puts Economic Data Online

Gabe Bullard — Mon, 18 Jun 2012 18:13:33 +0000

Metro Government has launched a website that features charts of local economic data.

The site features information from the Kentucky State Data Center, and some of it is painful. For instance, looking through the site, you can see that population growth has slowed, wages have dropped and employment remained flat for most of the time after the recession (but it is on the upswing now).

Kentucky Unemployment Drops to Match National Rate at 8.2 Percent

Gabe Bullard — Thu, 14 Jun 2012 19:29:14 +0000

The Kentucky's jobless rate has fallen to 8.2 percent.

The latest figures from the Kentucky Office of Employment and Training show the unemployment dropping last month from 8.3 percent in April. This is the 10 consecutive month that a decrease was recorded.

It's also the first time since 2004 that Kentucky unemployment has been equal to or better than the national unemployment rate, which was also 8.2 percent for May.

McConnell: Obama Running Out of Economic Ideas

Phillip M. Bailey — Wed, 13 Jun 2012 17:29:51 +0000

Senate Minority Leader Mitch McConnell, R-Ky., is pleading with President Obama to deliver new ideas on the sluggish economic recovery.

The president is scheduled to deliver a major economic address Thursday, which will be the first of the general election campaign and in the swing state of Ohio.

But observers expect Mr. Obama won't offer any new jobs proposals and instead continue to push lawmakers to pass his "to-do" list.

McConnell says Democrats are getting anxious about economic stagnation and the nearing election.

"We can expect more of the same: more government, more debt and higher taxes to pay for it all," he said on the Senate floor Wednesday. "Now, according to the news reports, some Democrats are starting to get a little wary of this approach. A number of folks who worked in the Clinton Administration have suggested something more positive. But others are pleading with the president to double down on the message that government is the answer."

McConnell Pounces Obama 'Doing Fine' Gaffe

Phillip M. Bailey — Fri, 08 Jun 2012 22:42:27 +0000

Senate Republican Leader Mitch McConnell, R-Ky., released the following statement tearing into President Obama for claiming that the private sector is "doing fine" during a press conference to address economic concerns.

From McConnell's office:

“Whether the President wants to acknowledge it or not, we are now living in the Obama Economy, and no ‘post-it note’ proposal can reverse the damage done by his policies over the past three and a half years. It’s baffling that in the face of all evidence to the contrary, this President still believes that spending money we don’t have to inflate the government is the answer to America’s economic problems.
The economy would respond much more favorably to providing the tax certainty Americans deserve by extending all the tax rates and assuring employers they do not have to budget for the largest tax increase in American history next year. The Obama Economy is even slower now than when we extended the rates in 2010—raising taxes on job creators in this slow economy is simply not the elixir for his failed policies.”