These results come as Governor Beshear touted Kentucky’s successful economic recovery from the pandemic.
“Our economy is about to take off and every day we see more and more positive signs,” Governor Beshear said last week.
Beshear said Kentucky’s post-pandemic economy is recovering at some of the best rates in the country, but WalletHub’s study shows otherwise.
“35 different indicators of labor market strength, opportunities and a healthy economy were used. That ranges from job growth to annual income levels to the macroeconomic environment, ”said Jill Gonzalez of WalletHub.
The study published on Wednesday analyzes the past seven years of economics. It also looked at unemployment rates, with Kentucky leading the nation with 33% of the workforce filing at one time of the pandemic.
Meanwhile, Governor Beshear announced several developments a few weeks ago that total 505 jobs and $ 273 million in investment.
“Fitch has spoken about our economy recovering faster than most other states, and Moody’s said we are enthusiastically recovering,” said Governor Beshear.
But if Kentucky is growing so much, why is it ranking so low?
“I think if his briefings look at one piece of the puzzle, they could be absolutely correct. But we are really looking at the whole picture. So I think we’re taking a little bit more into account, and of course we’re not just looking at Kentucky. We compare it to any other state, ”said Gonzalez.
Neighboring West Virginia is number 49 on the list, Ohio is number 30, and Tennessee is in the top 15.
It’s a comparison that shows Kentucky is at best recovering from short-term COVID-19 setbacks, but has room for growth to make up for past years.
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