Daily Independent (Ashland, KY)


July 9, 2014

Study shows economic boost in Boyd

ASHLAND — Boyd County was ranked 19th in Kentucky in a study of economic growth conducted by a New York-based data company that was published last week.

Data analysts at ValuePenguin.com took labor statistics from 100 counties from 2012 to 2014 and compared results of economic factors including unemployment and the number of jobs created.

In this formula, Boone County was deemed the “fastest-growing economy,” while Pike County was pushed to the bottom as the “most rapidly shrinking economy,” with an estimated loss of 2,276 jobs.

Here is a ranking order of how area counties fared:

- Boyd - No. 19, jobs created - 396

- Greenup - No. 50, jobs created - 111

- Carter - No. 54, jobs created - 83

- Lewis - No. 65, jobs created - 28

- Rowan - No. 74, jobs created - (-23)

- Lawrence - No. 85, jobs created - (-127)

- Johnson - No. 94, jobs created - (-304)

- Martin - No. 95, jobs created - (-272)

The study examined Kentucky counties with a population greater than 10,000. Elliott County was not included in the study.

According to the study, the calculations for jobs created is an estimate based on the reduction in unemployment multiplied by the population.

Though the study ranks the fastest-growing economies in Kentucky, Brian Quinn, co-founder of ValuePenguin, said a high ranking is not necessarily indicative of a booming economy.

In particular regard to Boyd County, Quinn said, “The unemployment numbers in Kentucky are some of the worst in the whole country. So the interpretation of this data may be more so that they’re not as bad in Boyd County as most other Kentucky counties.”

He said job growth in other areas of the Tri-State, such as Huntington, could be contributing to lower unemployment numbers in the Ashland-Boyd County area without having to create more jobs in Kentucky.

But he added, “The unemployment in Boyd is still higher than it was before 2008. It was around 5.2 percent, now it is at 6.2 percent, but it is significantly lower than its high of around 8.4 percent in 2010.”

Data was used from the Bureau of Labor Statistics. For information visit http://www.valuepenguin.com/kentucky-fastest-growing-local-economies

Text Only
Local News
Local Sports
College Basketball
CNHI News Service Originals
Featured Ads
Seasonal Content
AP Video
Arizona Prison Chief: Execution Wasn't Botched Calif. Police Investigate Peacock Shooting Death Raw: Protesters, Soldiers Clash in West Bank Police: Doctor Who Shot Gunman 'Saved Lives' 'Modern Family' Star on Gay Athletes Coming Out MN Twins Debut Beer Vending Machine DA: Pa. Doctor Fired Back at Hospital Gunman Raw: Iowa Police Dash Cam Shows Wild Chase Obama Seeks Limits on US Company Mergers Abroad Large Family to Share NJ Lottery Winnings U.S. Flights to Israel Resume After Ban Lifted Official: Air Algerie Flight 'probably Crashed' TSA Administrator on Politics and Flight Bans Raw: National Guard Helps Battle WA Wildfires Raw: Ukraine's Donetsk Residents Flee Senators Push to End Hamas Threat in Cease-Fire A Young Victim's Premonition, Hug Before MH17 Raw: Deadly Storm Hits Virginia Campground Death Penalty Expert: 'This is a Turning Point' Raw: MH17 Victim's Bodies Arrive in Netherlands
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Newspaper National Network
SEC Zone