Kentucky: ‘You Don't Recover From the Loss of 13,000 Coal Industry Jobs Since 2011 Overnight’
Coal production near Hazard, Ky., has dropped to about 4 million tons a year from 17 million tons a decade ago, and where there were once dozens of coal companies in the region there are now only seven. The labor-force participation rate is roughly 44 percent, compared to 70 percent annually. Economic diversification lags, and towns in the region are in dire financial condition. "We're still dealing with the aftermath of layoffs in the coal industry," said a spokesman for the Hazard-based Eastern Kentucky Concentrated Employment Program. "You don't recover from the loss of 13,000 coal industry jobs [in eastern Kentucky] since 2011 overnight."
CNBC
