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Unemployment rates down in 82 Kentucky counties in October
November 29, 2016

Unemployment rates fell in 82 Kentucky counties between October 2015 and October 2016, rose in 33 and stayed the same in five counties (Breckinridge, Knott, Laurel, McLean and Powell), according to the Kentucky Office of Employment and Training, an agency of the Kentucky Education and Workforce Development Cabinet.

Woodford County recorded the lowest jobless rate in the Commonwealth at 3 percent. It was followed by Oldham and Shelby counties, 3.1 percent each; Fayette and Spencer counties, 3.3 percent each; Warren County, 3.4 percent; and Anderson, Boone, Campbell and Scott counties, 3.5 percent each.

Magoffin County recorded the state’s highest unemployment rate at 14.1 percent. It was followed by Leslie County, 11.6 percent; Harlan County, 10.5 percent; Letcher County, 10.3 percent; Elliott County, 10.1 percent; Floyd County, 9.9 percent; Pike County, 9.6 percent; Knott County, 9.5 percent; and Clay and Perry counties, 9.3 percent each.

In contrast to the monthly national and state data, unemployment statistics for counties are not seasonally adjusted. The comparable, unadjusted unemployment rate for the state was 4.6 percent for October 2016, and 4.7 percent for the nation.

To view a set of maps detailing these monthly numbers, click here. For PDF charts of the data, click here.

To access Local Area Unemployment Statistics (LAUS) data click here.

Learn more about the Office of Employment and Training at www.workforce.ky.gov.

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7 things you should never do online
November 18, 2016

As real estate agents, you spend (or probably should spend) a lot of time online collecting leads, generating referrals, researching properties, etc. Most of that time may be spent on social media. Are you using that time wisely and appropriately? Here are seven tips on ways to quit bad behavior and make better choices on what you do online. Stop doing these things:

  1. Be gullible to posts and videos It doesn’t take much effort to create a convincing hoax. With the right phrasing and a dab of digital wizardry, you can convince millions of people that Brad Pitt committed suicide, or drilling a hole in your iPhone 7 will reveal a hidden headphone jack. (It won’t by the way, but here’s the video that has over 15 million views and fooled some into destroying an iPhone.) A recent hoax alleges that Facebook's privacy policy has changed and all your pictures, posts, and messages will now become public. People are upset and posting false status updates that they do not give Facebook permission to share their private content. This particular post, like many others, cites a news source along with mumbo jumbo legal statutes. True, it’s hard to tell a hoax is a hoax, but if you hear something shocking, run a quick internet search before you believe it. You may save yourself a lot of embarrassment, and you’ll leave the pranksters less reason to fool people. Read More

 

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Kentucky's unemployment rate at 5.1% in October
November 18, 2016

Kentucky’s seasonally adjusted preliminary unemployment rate for October 2016 was 5.1 percent from a revised 5 percent in September 2016, according to the Office of Employment and Training (OET), an agency of the Kentucky Education and Workforce Development Cabinet.

The preliminary October 2016 jobless rate was 0.4 percentage points lower than the 5.5 percent rate recorded for the state in October 2015. The U.S. seasonally adjusted jobless rate for October 2016 was 4.9 percent, 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 October 2016, Kentucky’s civilian labor force was 1,996,795, an increase of 14,997 individuals compared to the previous month. Employment was up by 12,931, and the number of unemployed increased by 2,066. Read More

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NAR's chief economist, Lawrence Yun, examines real estate under a new presidency
November 18, 2016

Lawrence Yun, NAR's chief economist, examines how the real estate market will be impacted by Donald Trump’s victory and Republicans controlling both chambers of Congress. Though Mr. Trump is a real estate man, his policy platform has been largely vague on real estate proposals. Here are his thoughts on how certain real estate issues may play out under President Trump and their potential impact to consumers.

  1. There will no doubt be a short-term stimulus to the economy. A combination of tax cuts and government spending in the form of upgrading nation’s infrastructure and for national defense will provide a short boost to the economy in the first half of 2017. Inflation will likely kick a bit higher from a faster GDP growth and that will lead to modestly higher interest rates. Accompanying gains in consumer confidence will further move the economy higher. Should the faster GDP growth be sustained and arise out of higher productivity, then inflation will be manageable. Moreover, more jobs will automatically mean more tax revenue, which will lessen budget deficit. Should, however, the stimulus impact give only a short term boost and not be durable then a much larger budget deficit will force interest rates notably higher. The future generation will be saddled with more debt. Read More
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