Western Kentucky Businesses Lay Off 350 Since March as Rising Costs Squeeze Employers
Updated
Updated · WPSD Local 6 · Jul 22
Western Kentucky Businesses Lay Off 350 Since March as Rising Costs Squeeze Employers
3 articles · Updated · WPSD Local 6 · Jul 22
Summary
350 workers in western Kentucky have lost jobs since March, with four layoffs accounting for most of the cuts: 114 at CC Metals and Alloys, 99 at Precision Parcel Logistics, 70 at Premier Candle and 67 at Stella Jones.
Rising input costs and normal economic cyclicality are pushing employers to trim operating expenses, economist Chris Wooldridge said, though he added it is still unclear whether the layoffs signal a broader regional slowdown across industries.
Paducah-area support groups say the job losses are already driving more newly unemployed residents to seek help, with Goodwill Opportunity Center and the Kentucky Career Center offering job placement, training, computer access and other services.
The layoffs are hitting household spending as well as workers' finances, Wooldridge said, reducing income that would otherwise circulate through local businesses; H.B. Fuller has also announced a potential Paducah plant closure.