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Foreclosure filings down in 1Q

First-quarter foreclosure activity in Kentucky was down 16.9 percent from the previous quarter and down 4.17 percent from the first quarter of 2010. The state also posted one of the nation’s lowest foreclosure rates with one in every 662 housing units with a foreclosure filing during the quarter. That rank was No. 41 among the 50 states.

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Unemployment statewide is still hovering over 10%

Hence the reason why we are still far from a recovery.

From  Kentucky’s seasonally adjusted preliminary unemployment rate fell from 10.4 percent in February 2011 to 10.2 percent in March, according to the Office of Employment and Training (OET), an agency of the Kentucky Education and Workforce Development Cabinet.

The preliminary March 2011 jobless rate dropped .6 percentage point below the 10.8 percent rate recorded in March 2010 for the state. The 10.2 percent rate recorded in March 2011 is the lowest rate since November 2010 when it was 10.2 percent.

“Kentucky’s economy showed signs of improvement in March 2011 as the unemployment rate dropped to 10.2 percent. Nonfarm employment grew for the third month in a row and reached its highest level since January 2009. Eleven consecutive months of year-over-year job growth provide additional evidence of economic recovery,” said Dr. Justine Detzel, OET chief labor market analyst.

Annual unemployment rates down

Overall, generally good news across the Commonwealth, but we are far from a recovery unfortunately.

From  Annual unemployment rates were lower in 76 Kentucky counties in 2010 than in 2009, according to the Kentucky Office of Employment and Training in the Kentucky Education and Workforce Development Cabinet.

In addition, 38 Kentucky counties had a higher annual unemployment in 2010 than in 2009 while Bourbon, Hickman, McCreary, Morgan, Pulaski and Taylor counties each had the same rate for both years.

In 2010, 90 Kentucky counties had an annual jobless rate at or above 10 percent compared to 98 counties that recorded double-digit rates in 2009.

The annual jobless rates for Fayette and Woodford counties were the lowest in the Commonwealth in 2010 at 8.1 percent. They were followed by Oldham County, 8.5 percent; Calloway County, 8.7 percent; Carlisle and Madison counties, 8.8 percent each; Boyd and Franklin counties, 8.9 percent each; Warren County, 9 percent; and Hickman, McCracken and Shelby counties, 9.1 percent each.

Magoffin County recorded the state’s highest annual unemployment rate in 2010 — 19.7 percent. It was followed by Menifee County, 17.5 percent; Jackson County, 17.1 percent; Lewis and Powell counties, 15 percent each; Grayson County, 14.5 percent; McCreary and Wolfe counties, 14.4 percent each; Bath County, 14.2 percent; and Metcalfe County, 14.1 percent.

Unemployment statistics are based on estimates and are compiled to measure trends rather than actually to count people working. Civilian labor force statistics include non-military workers and unemployed Kentuckians who are actively seeking work. They do not include unemployed Kentuckians who have not looked for employment within the past four weeks. The statistics in this news release are not seasonally adjusted to allow for comparisons between United States, state and counties figures.

Learn more about the Office of Employment and Training at


Foreclosure rate rose in 2010

Foreclosures rose in Kentucky last year with courts reporting a 9.3 percent jump in their caseloads to 20,111 households in 2010, new state data shows.

In Northern Kentucky, the caseload grew even faster, rising 13.7 percent to 2,528 cases last year. Boone, Campbell and Kenton counties accounted for one out of eight foreclosures in the Bluegrass State in 2010.

The latest numbers mean the Greater Cincinnati and Northern Kentucky region saw a 1.1 percent rise in foreclosures in 2010 to 15,102 cases last year. That compares to a previously reported 4 percent drop statewide in Ohio to 85,483 in 2010 and a 1.1 percent drop in Southwest Ohio counties to 12,574 cases in 2010.

In the last two years, Northern Kentucky’s share of Greater Cincinnati’s foreclosure caseload has doubled – from 8.2 percent of the region’s total caseload in 2008 to 16.7 percent of the 2010 caseload.

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County by county unemployment breakdown

Here is a great breakdown of every county in Kentucky.  While unemployment is dropping somewhat, it is still hovering over 10% state wide.

We may be recovering finally, but jobs are still not plentiful just yet.

February 2011 unemployment numbers

Unemployment rates fell in 93 Kentucky counties between February 2010 and February 2011, according to the Kentucky Office of Employment and Training, an agency of the Kentucky Education and Workforce Development Cabinet. Twenty-four county rates increased, while three county rates stayed the same.

Fayette and Woodford counties recorded the lowest jobless rates in the Commonwealth at 8.6 percent each. They were followed by Oldham and Webster counties, 8.8 percent each; Boone County, 9.1 percent; Henderson County, 9.2 percent; Shelby County, 9.3 percent; Warren County, 9.5 percent; and Hancock and Madison counties, 9.6 percent each.

Magoffin County recorded the state’s highest unemployment rate — 20.3 percent. It was followed by Jackson County, 19.9 percent; Menifee County, 19 percent; Lewis County, 18 percent; Metcalfe County, 17.1 percent; Bath County, 16.8 percent; Clay and McCreary counties, 16.5 percent each; and Bell and Meade counties, 15.7 percent each.

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