Economy
Harm of anti-LGBTQ laws includes economic pain for communities, families
Roberto Che Espinoza had been thinking about leaving Tennessee after the 2024 election, but in June they noticed that the state attorney general was seeking medical records on gender-affirming medical care, which Espinoza, a nonbinary transgender man, said included their own records. “Being on any kind of list … I knew after the release of […]
Despite pandemic pay boost, low-wage workers still can’t afford basic needs
Employers grappling with a nationwide labor shortage gave the largest pay increases to low-wage workers between 2019 and last year. But even so, many of those workers — more than 40% of all U.S. households, by one estimate — are struggling to cover the inflated costs of basic expenses. In the past several years, businesses […]
Kentucky reports another record surplus. Will it lead to a third income tax cut?
Kentucky brought in a record $15.1 billion in general fund tax revenue during the last fiscal year — the most ever — buoyed by a strong jobs market, increasing salaries and wages and continued industry profits, the state budget director’s office announced Monday. Revenue in fiscal year 2023 exceeded budgeted expectations by about $1.4 billion, […]
Economy adds more jobs in June even as hiring slows
Although hiring inched down in June, the U.S. labor market is still showing signs of strength, with unemployment falling and earnings continuing to rise, the latest jobs report from the U.S. Department of Labor showed. The economy added 209,000 jobs as the unemployment rate fell to 3.6% from 3.7% in May. “In excess of 200,000, […]
Microvast confirms it won’t develop battery technology plant in Hopkinsville
Microvast Holdings Inc.?has announced it won’t proceed with plans for a battery technology plant in Hopkinsville — a project that would have brought a $504 million investment and more than 500 jobs to Commerce Park II. A press release issued Friday from the Texas-based company says the project is off “at least for now.” The […]
States, cities turn to community organizations to battle wage theft?
About five years ago, most of Minneapolis’ Subway, Little Caesars and McDonald’s franchise restaurants did not comply with city wage standards. Now workers at each of the locations that violated the law receive the required minimum wage and time off when they’re sick. This is all thanks to a co-enforcement program, where the city’s labor […]
State regulator threatens Kentucky Power with fines for 2022 winter storm performance
Kentucky’s utility regulator is asking Kentucky Power why it shouldn’t face fines for failing to prepare for a power supply shortfall ahead of the December 2022 winter storm. The Kentucky Public Service Commission (PSC) in a June 23 order alleged Kentucky Power had violated a state law that requires utilities to “furnish adequate, efficient and […]
Money for broadband is here. The work of connecting Kentuckians could take years.
LOUISVILLE — With more than $1 billion on its way to connect Kentuckians who have poor or nonexistent internet access, a roundtable of government leaders and telecommunications executives on Tuesday gave a window into the years of work that lie ahead to make broadband a reality throughout the state. Democratic Gov. Andy Beshear joined the […]
Beshear, McConnell, Biden hail $42 billion to connect all Americans to high-speed broadband
Democratic Gov. Andy Beshear and Republican U.S. Sen. Mitch McConnell hailed a White House announcement Monday that Kentucky will receive almost $1.1 billion to expand broadband internet access. The funding is part of $42.45 billion unveiled by the Biden administration to connect all Americans to high-speed broadband internet by the end of the decade. The […]
Wage growth remains high, jobs are steady and inflation is falling so why are people worried?
Economists have been predicting a recession for months, but the labor market has remained resilient, wage growth is higher than before the pandemic, and inflation continues to drop, now at 4% compared to 9.1% in June of last year. Despite this good news, consumers don’t feel confident about the future, according to the consumer confidence […]
Kentucky lost hundreds of physicians when it most needed them
The commonwealth lost nearly 600 physicians from 2019 to 2022, Kentucky Medical Association Executive Vice President Patrick Padgett told legislators in Frankfort on Wednesday.? The loss of 590 physicians represents a $1 billion economic loss, Padgett said. It also means?a hit to patient services.? And it happened during the deadly coronavirus pandemic that killed nearly […]
Statehouses debate who should build EV charging networks
Though they only make up a fraction of cars and trucks on the road now, many projections — from Wall Street firms, trade groups and automakers themselves — predict an imminent surge in electric vehicles over the next decade. S&P Global estimates that the nearly 2 million electric vehicles on U.S. roads today will grow […]