BluegrassForeclosure.com

The economic signs aren’t good for the Bluegrass.  The jobless rate climbed slightly, albeit it still is hovering at the 10% mark.  To get back to levels from a few years ago, we need robust job growth.  Since that isn’t happening right now, we can expect to see continued foreclosures for the foreseeable future.

From Kentucky.gov: “Kentucky’s seasonally adjusted preliminary unemployment rate rose to 10 percent in August 2010 from a revised 9.9 percent in July 2010, according to the Office of Employment and Training (OET), an agency of the Kentucky Education and Workforce Development Cabinet.

The August 2010 jobless rate is .8 percentage points lower than the 10.8 percent rate recorded in August 2009 for the state. The 10 percent rate recorded in August 2010 matches the unemployment rate recorded in June 2010 and is the highest since that month.

“Kentucky’s economy is struggling to mount a sustained recovery as consumers keep a tight rein on spending. Faced with a stagnate labor market, sluggish wage growth, and declining wealth, households are saving more and spending less on discretionary items,” said Dr. Justine Detzel, OET chief labor market analyst.”