Kentucky Unemployment Highest in 26 Years

You're not imagining things; the descent of Kentucky's economy into the sewer is accelerating.

Kentucky’s seasonally adjusted preliminary unemployment rate for May 2009 jumped to 10.6 percent from a revised 9.9 percent in April 2009, according to the Office of Employment and Training (OET), an agency of the Kentucky Education and Workforce Development Cabinet.

May 2009’s jobless rate is 4.4 percentage points higher than the 6.2 percent rate recorded in May 2008 and it matches the 10.6 percent reported in October 1983.

The U.S. seasonally adjusted jobless rate rose from 8.9 percent in April 2009 to 9.4 percent in May 2009, according to the U.S. Department of Labor.

Did you catch that? Kentucky's unemployment rate jumped almost three-quarters of a percent in one month. If it maintains that rate, by next May the unemployment rate will be 8.4 percentage points higher, or 19 percent.

That's unlikely, of course, but not entirely out of the realm of possibility, especially if our elected "leaders" keep gambling on casinos to save us.

“Kentucky’s unemployment rate today is 10.6 percent – the highest rate since 1983." Governor Steve Beshear said in a statement. "That sobering fact should dramatically underscore the need for all of us – in the Governor’s office and in the legislature – to find every way possible to save jobs and create new ones. We need to act -- and act now -- on the measures under consideration in this special session. We need to lead -- and lead now -- on these measures.

"Our economic incentives bill will create jobs and stimulate hundreds of millions in investment for our Commonwealth. Our budget proposal continues funding for education and key areas of health care and public safety. The bridges’ bill would help projects worth billions of dollars move forward. And the proposal before the legislature on limited gaming at racetracks would help save 100,000 jobs, $4 billion in investment, while investing in Kentucky’s future: our children. We have the information we need. We have the authority. The question is: do we have the will?"

Don't look at us, Steve, you're the one who's been bowing and scraping before the almighty Williams for a year and a half. The question is, do you have the balls?