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Beshear: Kentucky’s unemployment rate is the lowest in state history

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Beshear: Kentucky’s unemployment rate is the lowest in state history


KENTUCKY (WFIE) – Kentucky’s unemployment fee is decrease than it’s ever been, Governor Andy Beshear says.

He’s reporting a 3.9% unemployment fee within the commonwealth.

And now, Kentucky leaders have a little bit of a brand new downside on their palms.

“The commonwealth of Kentucky simply posted the bottom unemployment fee in state historical past,” Beshear stated.

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Kentucky noticed a 12 months of considerable financial improvement, which introduced hundreds of recent jobs.

1500 jobs are open simply in Hopkins County. Financial Improvement President Ray Hagerman says it’s been powerful to fulfill the demand.

“We posted 90 new jobs final week on our Hopkins County Jobs web site – 90 new jobs,” stated Hagerman. “You gotta catch up as fast as you possibly can.”

Hagerman calls it a “downside of prosperity” with extra jobs open than there are folks trying to find work.

“When you may have this many roles which were created, you’ve acquired to do one thing to fill these jobs,” Hagerman stated.

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He says communities want to begin getting artistic about attracting new folks to the world to fill these spots.

“How can we ensure that we now have sufficient infrastructure? How can we ensure that we now have sufficient housing? And the way can we improve our high quality of life experiences?” Hagerman requested.

Hagerman says dealing with this improvement may have its personal challenges.

“There’s going to be some rising pains, little question about it,” he stated. “We’re going to see a number of development, we’re going to see lots of people who’re upset as a result of they’ve to take a seat in visitors.”

Consultants noticed this coming, and now communities must work to get forward.

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“Even when it takes us two or three years to get the place we should be, no less than we’re beginning,” Hagerman stated.

Beshear says much more job openings shall be coming as Kentucky is now a hub for electrical car battery manufacturing and agricultural expertise.

Copyright 2022 WFIE. All rights reserved.



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Kentucky

Kentucky realtor shares brand growth through social media amidst potential US TikTok ban

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Kentucky realtor shares brand growth through social media amidst potential US TikTok ban


LEXINGTON, Ky. (WKYT) – It started as a fun way to pass time with her family during the COVID-19 pandemic, but more than 100,000 followers and close to 4 million likes on TikTok later, Whitney Pannell said it’s become another way to grow her business.

“I want to be ahead of the curve. I want to be a trendsetter,” Pannell said.

Known as ‘Momma Pannell’ on TikTok, Whitney first started out on Facebook in 2007, then continued to grow her following, and Real Estate business, over on Instagram. TikTok became another social media site to build her brand, and a larger clientele.

“People that follow me on TikTok will call me and want to list their house with me or want me to help them buy. I hardly have to interview anymore because people already know my personality through my social media.”

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Like most creators, Pannell has been following the TikTok news out of Washington, D.C., for the past couple of weeks.

President Joe Biden signed a bill that would ban the video-sharing app from being downloaded in the U.S. unless the site owner, a Chinese company ByteDance, sells TikTok to a non-Chinese buyer within the year.

“If TikTok went away, I would be fine. I would use other platforms.”

ByteDance is already suing the federal government, but there could be a lengthy battle ahead.

One, an influencer like Pannell said she’s prepared for.

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“I don’t put all of my eggs in the TikTok basket. Or the Instagram basket. You have to really diversify on all your platforms. That’s why it is really a time-consuming job.”

Pannell’s son Parker has also built a career through social media. He’s now an actor, YouTuber and content creator with millions of followers, and he’s now living and working in Los Angeles.



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John Calipari set to return to Rupp Arena in 2025 as Arkansas travels to Kentucky

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John Calipari set to return to Rupp Arena in 2025 as Arkansas travels to Kentucky


John Calipari’s return to Kentucky has been set.

On Monday, the SEC announced the upcoming 2024-25 men’s basketball regular season slate and Calipari’s now-led Arkansas Razorbacks are set to travel to Rupp Arena to take on Mark Pope’s Wildcats.

A date and time for the game will be announced at a later date. The SEC regular season is slated to begin on Saturday, January 4 and end on Saturday, March 8 of next year per the conference’s press release.

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REQUIRED READING John Calipari aims to use ‘eight or nine’ players during first year at Arkansas

With the additions of Texas and Oklahoma to the SEC next season, the traditional home-and-home makeup of the SEC regular season will not continue as only three teams will play each other twice now in a season.

And so, with Arkansas and Kentucky not scheduled to play a home-and-home this season this means Calipari and the Razorbacks won’t host the Wildcats in a return game in Fayetteville this year.

Naturally given how beloved Calipari was at Kentucky and how his tenure ended, it will be one of the highest-priced tickets this upcoming basketball season.

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Since being hired at Arkansas back last month, Calipari has rebuilt a Razorbacks roster that went 16-17 overall under former head coach Eric Musselman through the transfer portal. Calipari has brought in Wildcats transfers Adou Thiero and Zvonimor Ivisic, FAU guard transfer Johnell Davis and former Tennessee big man Jonas Aidoo.

The Hall of Fame coach signed a five-year contract with a salary slightly north of $8.5 million per year with the Razorbacks, which makes him the second-highest-paid college basketball coach in the country according to the USA TODAY Sports database.

In his 15 seasons at Kentucky, Calipari compiled an overall record of 410-123 while leading the Wildcats to a national championship title in 2012 and four Final Four appearances.



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Bourbon industry brings significant economic impact to Kentucky

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Bourbon industry brings significant economic impact to Kentucky


Kentucky’s bourbon industry is rich in tradition but also means a bright future in the commonwealth.

As a signature industry in the state, Kentucky’s bourbon and spirits sector is responsible for over 23,000 jobs, with an annual payroll topping $2.16 billion. The key sector also generates $9 billion in economic impact, providing a significant boost to the state’s soaring economy.

Since the beginning of Gov. Andy Beshear’s administration, Kentucky’s bourbon and spirits industry has announced 102 new location and expansion projects, totaling $4.2 billion in investment and creating over 1,800 jobs.

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At no point was this impact felt more than in 2022, when Kentucky recorded its single best year for growth of its signature industry, with private-sector new-location and expansion projects totaling over $2.1 billion in investments and approximately 700 new jobs for Kentucky residents.

This record-setting year was highlighted by Louisville-based Sazerac Co., which in November 2022 announced the largest distilled spirits-related investment on record in Kentucky history with a $600 million investment in London. The project is creating up to 50 full-time jobs and supporting the company’s continued growth.

In July of that year, Beam Suntory announced the expansion of its Jim Beam Brands Co. with a $400 million investment that will create more than 50 full-time jobs at the Booker Noe Distillery in Boston.

“The growth of Kentucky’s bourbon industry is one of the most important factors in our state’s recent economic success,” said Gov. Beshear. “We’ve made tremendous strides in not only growing the number of distilleries in the commonwealth but increasing the supporting infrastructure of the industry, adding rickhouses, storage warehouses, bottling centers and manufacturing facilities all over the state. Combined with the emphasis on tourism, our bourbon and spirits sector is creating job opportunities and driving economic momentum in every corner of Kentucky.”

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That success has continued, highlighted by major announcements from both Legacy Spirits of Kentucky, LLC and Staghorn. Legacy Spirits announced a more than $250 million investment in a new bourbon distillery and restaurant in Madison County, creating 80 new Kentucky jobs. Meanwhile, Staghorn announced a new distillery in Garrard County, another $250 million project creating 60 quality jobs.

Those are just a few of the recent significant announcements helping move the industry forward in Kentucky.

Kentucky’s continued bourbon boom has played a critical role in the state’s record-surging economy and shows no signs of slowing down. As of the end of 2023, there are 100 licensed distilleries operated by 84 companies in 42 Kentucky counties, five times the number of distilleries since 2009, with a 135% growth in employment and a 160% growth in wages.

This growth has played a significant role in job creation as well. Since 2001, distillery employment has risen 130%, while the rest of Kentucky’s manufacturers have shed 20.5% of their employees. The average annual salary and wages per Kentucky distillery team member is $94,000 compared to the national average of $69,000 – thanks in large part to the number of headquarters and executive positions in Kentucky.

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Distillers across the state are setting new marks for production. Distillers produced a record 2.7 million barrels of Bourbon in 2022, the fifth year in a row topping the 2-million-barrel production mark. Production has skyrocketed nearly 500% since the turn of the century – with around 455,000 barrels produced in 1999 – and 240% since 2009. Kentucky boasted more than 12.6 million barrels of Bourbon aging in warehouses across the state as of January 2023, the first time inventory reached the 12 million milestone.

If the industry continues at its current growth rate, by 2025, distilling is anticipated to support 28,000 jobs with a payroll of $3 billion, reaching the $10 billion economic impact mark, and provide more than $436 million in local and state tax revenue from production and consumption.

The continued growth and expansion of distilleries, barrel storage warehouses and bottling and distribution centers continues to play a major role in the commonwealth’s continued economic success. 

The momentum of one of the commonwealth’s signature industries is fueling growth in communities across the state, from startups to distilleries rich in history. There’s no question that bourbon is booming in Kentucky.

Members of the editorial and news staff of USA TODAY Network were not involved in the creation of this content.

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