Unchanged Jobless Rate A "Good Sign" According To Economist

Jul 19, 2012

FRANKFORT, Ky. - Kentucky’s jobless rate has held steady at 8.2 percent for a second month.

According to the state Office of Employment and Training, Kentucky added more than 4000 jobs in May and June. While those numbers didn’t make a dent in the unemployment rate, OET economist Manoj Shanker says they do show that job growth is keeping pace with the number of workers entering the job market.

"When the news is bad, people stop hiring or at least hiring expectations go down. So holding steady for two months and declining steadily for the last five or six months is really a good sign," he says.

While car sales were a bright spot in the report, employment in the information, education and health services sectors fell. New claims for unemployment benefits were just over 20-thousand in June. Nearly 49-thousand applied for the benefits in the same month last year.