Ky. unemployment lowest in 4 years
unemployment rate dropped below 8 percent to 7.9 percent in January 2013, according to the Office of Employment and Training (OET), an agency of the Kentucky Education and Workforce Development Cabinet. The revised December 2012 state rate was 8 percent.
Kentucky’s unemployment rate has not been below 8 percent since November 2008 when it was 7.8 percent.
The preliminary January 2013 jobless rate was .6 percentage points below the 8.5 percent rate recorded for the state in January 2012.
The U.S. seasonally adjusted jobless rate increased to 7.9 percent in January 2013 from 7.8 percent in December 2012, according to the U.S. Department of Labor.
Labor force statistics, including the unemployment rate, are based on estimates from the Current Population Survey of households. It is designed to measure trends rather than to count the actual number of people working. It includes jobs in agriculture and those classified as self-employed.
In January 2013, Kentucky’s civilian labor force was 2,085,509, a decrease of 820 individuals compared to the previous month.
Learn more about Kentucky labor market information at www.kylmi.ky.gov.
Real-estate sales up in January
Residential real-estate sales by members of the Lexington-Bluegrass Association of Realtors (LBAR) positively impacted the Bluegrass economy in January 2013 with 511 reported sales totaling $78,626,615.
The new year started out strong in the central Kentucky real estate market. Residential sales increased an impressive 27 percent over January 2012, rising from 384 to 486 sales reported closed. Townhouse and condo sales increased from 16 to 25 for the same period, a 56-percent gain. Pending sales also increased over last January, rising 27 percent from 556 to 706 pending sales reported.
LBAR represents more than 1,900 Realtors located in Anderson, Bourbon, Clark, Fayette, Franklin, Jessamine, Montgomery, Nicholas, Powell, Scott and Woodford counties.
Lawmakers remain at impasse on how to fix pension
FRANKFORT (AP) — Weekend discussions on fixing the financially troubled pension plans for state and local government retirees elicited starkly different reactions from the legislative leaders who attended.
Democratic House Speaker Greg Stumbo said Monday the latest meeting yielded no resolution and no plans to appoint a conference committee to work through differences.
“It would be useless; we’re so far apart,” Stumbo told reporters. “I think if we keep meeting, we can find some middle ground.”
Meanwhile, Republican Senate President Robert Stivers said he believes an agreement could be near.
“I think a lot of good discussions took place,” he said of a meeting on Sunday with Gov. Steve Beshear and House Democrats. “I think the governor weighed in to a certain extent and moved us closer to a resolution, but not a total resolution at this point in time. I think it is possible that we could come up with a resolution sometime very soon.”
The Democratic-controlled House and Republican-led Senate have been at odds on proposed fixes to the pension system, which has a $33 billion unfunded liability.