The University of Kentucky released its 43rd state economic report Monday.
Ken Troske with the Gatton College of Business and Economics says Kentucky will likely see moderate to slow growth in 2015.
"I'd love to see three to four percent in the nation and in the state,” said Troske. “We just don't see the projections, given all of the other issues that are buffeting the economy, particularly some of the troubles in the rest of the world."
Troske says a good percentage of Kentucky manufactured products are shipped overseas. He says the economy is gaining strength, so job seekers should have more success going forward, even if new positions are lower wage jobs.
Troske says a significant number of Kentuckians have left the labor market. He says, although its counter to traditional economic reporting, it would be good to see a short-term uptick in unemployment. "As the economy starts picking up and more and more firms are hiring, that attracts more people,” he said. “The people who are sitting on the sidelines, it attracts them back into the labor market and that causes a temporary turn up in unemployment, which then a long term decline in unemployment."
Troske says much of the state's job growth could be in lower wage positions. He says while the business sector and potential workers would like to see four to five percent economic growth, a two to three percent increase is more likely.
