Kentucky Unemployment Reaches 8.7%

by Gabe Bullard on March 12, 2009

January was another record-setting month for unemployment in Kentucky.

The January unemployment rate was 8.7 percent. That’s the highest rate in 22 years and it marks the highest annual increase in 29 years.

Office of Employment and Training spokesperson Kim Saylor Brannock says to meet the higher demand for unemployment claims, the state has had to borrow 125 million dollars from the federal government.

But, she says the federal stimulus plan has made the loans easier to manage.

“Because of the stimulus plan, we don’t have to pay interest on what we’re borrowing right now, but we do have to pay it back,” she says. “So we’ll have to wait and see with the stimulus package how that’s going to help the state in different areas, too.”

Officials say most of the job losses were in the manufacturing sector.

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