www.courier-journal.com/apps/pbcs.dll/article?AID=/2008 -
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Published on: 9/30/2008
Last Visited: 9/30/2008
University of Kentucky economist Ken Troske said many people are feeling uncertain because of news about the shaky banking industry, combined with rising fuel and food prices, depressed housing values and rising jobless rates.
"I think there's a lot of uncertainty, and it's being reflected in the polls," Troske said, noting that last week's headlines about the financial crisis likely boosted Kentuckians' worries about their personal finance.
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Troske said that in Kentucky, housing prices have fallen, although not as much as in some other states.
Kentucky's unemployment rate rose to 6.8 this year, from 5.5 last year.And manufacturing is down, but other areas of the state's economy are better off, such as exports.
In addition, stock market declines during the ongoing financial crisis affect more Kentuckians than ever before, Troske said, because more people are relying on individual retirement accounts.