Weather forecast, provided by Yahoo72°F11:55 PM

Kentucky unemployment rate dropped again in February [Opinion: The Arena]

Kentucky unemployment dropped again in February [Opinion: The Arena]
More good economic news for Kentucky. The unemployment rate in the state dropped again in February, to 8.7%.

New data released today by the Department of Labor's Bureau of Labor Statistics show Kentucky's unemployment rate falling another tenth of a percent in February to 8.7%. 

These are preliminary numbers and will be revised in several weeks, as is the norm for statistical data about the unemployment rate.

Kentucky economy blooming this Spring [Opinion: The Arena]

Kentucky economy blooming this Spring [Opinion: The Arena]
Promising new data shows Kentucky economy growing... with more growth on the way.

Two economic data points updated yesterday by the Federal Reserve show that daffodils aren't the only things blooming in Kentucky. As of the fourth quarter of 2011, Kentucky per capita income finally reached pre-recession levels, and the Federal Reserve's leading index forecasts Kentucky economic activity at levels not seen in the better part of a generation.

Why are people so surprised I live and work here? [Louisville Newbie]

Whenever I mention to Louisville residents that I only recently moved here, the conversation that follows is identical.

Sometimes it’s my accent – or what I refer to as my lack of accent – that gives me away as an outside. Other times the subject comes up naturally. Whatever the trigger, whenever I mention to native or established Louisville residents that I only recently moved here, the conversation that follows is identical.

“Oh,” he or she says with surprise. “Do you have family here?”

“No.”

“Oh,” he or she replies, confused. “What brought you here then?”

Kentucky Unemployment Rate Falls [Opinion: The Arena]

Kentucky Unemployment Rate Falls
Kentucky's employment picture is getting better but still has a long way to go.

The Bureau of Labor Statistics has released its revised unemployment figures for January and they show that the unemployment rate in Kentucky fell two tenths of a percent, putting it at 8.8%. This extends a series of favorable reports that, since last summer, have shown a consistently improving jobs picture. It also shows, however, that at this rate of growth it will still be many years until the jobs lost during the Great Recession are replaced.

The Paul family's partial truth about the Federal Reserve [Opinion: The Arena]

Federal Reserve Headquarters
When the Paul family, Ron Paul and son Rand Paul, blame the Federal Reserve and its cheap money policy during the Bush years for creating the housing bubble and the resulting financial collapse, they are only telling a fraction of truth. The bigger problem was the loophole Phil Gramm wrote into the 2000 Federal Budget that made it possible for banks to lend at ratios that were guaranteed to end in disaster.

The father and son Paul duo, Ron and Rand, have been pointing to the Federal Reserve's low interest rates, primarily under the Bush administration, as the primary factor in creating the housing bubble. If we do some root cause analysis on this, we find that the Fed's low interest rates were a contributing factor, but they were not the only contributing factor, and they were also not even the primary factor.

Louisville news: Occupy ear X-tacy one last time edition [News]

A summary of local news for November 18, 2011
  • In Kentucky, the jobless rate dipped to 9.6 percent in October. The Kentucky Education and Workforce Development Cabinet says the state’s October figure fell from 9.7 percent the previous month and 10.2 percent for October 2010.” [Courier-Journal]
  • The federal government signed off on a revised plan for the Ohio River Bridges Project la

What McConnell WILL tell you about unemployment [The Arena]

Kentucky Senator Mitch McConnell
"Everybody in this body knows that the American people want us to do something about the jobs crisis. What Republicans have been saying is that raising taxes on business owners isn't the way to do it."

Here in The Arena, we like to give our readers a chance to hear both sides of public policy issues.  Brother Keith Rouda just finished giving us an interesting series of articles about “What McConnell won’t tell you about unemployment,” in which he attempts to put a bit of lipstick on President Obama’s pig of an economy.  With detailed charts and some snarky hyperbole, Rouda characterizes Senator Mitch McConnell’s “…utter lack of concern for the unemployed,” and opines that “Their suffering does not keep Senator McConnell awak

What McConnell won't tell you about unemployment: Part 3 - Government does create jobs [The Arena]

Mitch McConnell and his fellow Republicans agrily charge that government does not create jobs. Only the private sector creates jobs. This is ridiculous. Governments provide real and valuable services to people who pay for them with real and valuable dollars. And real and valuable people do the work... until those governments get starved, the workers all get laid off, and the services stop being provided.

Mitch McConnell talks about the lack of improvement in unemployment as if he had no role in it. But the reality is that despite his claims that uncertainty and regulation are preventing employers from hiring, the private sector has, slowly, started hiring. It is the collapse of local government that has kept the unemployment rate up.

What McConnell won't tell you about unemployment: Part 2 - Who's unemployed [The Arena]

Mitch McConnell's cynical and callous attitude toward the unemployed stems from more than his single-minded focus on bringing down the duly elected president of the United States of America. Those segments of society hardest hit by high unemployment didn't vote for Republicans even before they were unemployed.

One thing that needs to be noted, and which makes it easier to understand McConnell's utter lack of concern for the unemployed, is that unemployment has not been distributed equally throughout the economy. The unemployed didn't vote Republican even before they were unemployed.

What McConnell won't tell you about unemployment: Part 1 - The numbers [The Arena]

Mitch McConnell talks about the 1.5 million jobs lost since President Obama's inauguration and he shamelessly says the stimulus didn't work. What he doesn't tell you are that more Americans are working than when Obama took office or that without the stimulus, unemployment would be over 11% instead of stubbornly hovering about 9.1%.

Mitch McConnell said this week that America has lost 1.5 million jobs since the first stimulus bill was passed. That is not true.

A little over a month ago, this nation began a long overdue discussion about jobs and the crisis of unemployment for the first time in over two years. But since we have to have this discussion with people with no aversion to just making stuff up, we would be wise to bone up. Some stuff has changed in the last two and a half years.

Lets start with how many people are working now compared to when President Obama was inaugurated.

Like us on Facebook!
Subscribe to our RSS Feed!
Follow us on Twitter!
Add us to Your Circle on Google+!
Follow us on FourSquare!
Follow us on Pinterest!
Follow us on Tumblr!
wed
23
thu
24
fri
25
sat
26
sun
27
mon
28
tue
29
Copyright © 2012 Louisville.com, All Rights Reserved
137 W. Muhammad Ali Boulevard, Suite 102, Louisville, KY 40202
502-625-0100