Kentucky posted its lowest-ever unemployment rate in April, offering more proof of the state's unprecedented economic momentum, Gov. Andy Beshear said Thursday.The state's seasonally adjusted, preliminary jobless rate was 3.9% in April, the Democratic governor said. It's the lowest rate ever recorded in the Bluegrass State since the U.S. Bureau of Labor Statistics began reporting state rates in 1976, according to the Kentucky Center for Statistics."Kentucky's economy is absolutely on fire, and today's report shows that continued success is benefiting Kentuckians all across the commonwealth," Beshear said at a news conference.More on unemployment: Kentucky using millions in federal funding to set up mobile unemployment insurance officeBeshear was joined by Lt. Gov. Jacqueline Coleman for the milestone announcement.The governor has stressed his stewardship of the state's economy as he heads into a tough reelection campaign next year in a state trending Republican. Several GOP candidates already have entered the governor’s race and more are expected to announce bids for the state's top political job.Beshear typically begins his weekly news conferences with the state's latest economic development announcements, often inviting executives from new or expanding companies to make remarks.Last year, Kentucky set economic development records with $11.2 billion in business investments and the creation of 18,000-plus full-time jobs. It's also led to a prolonged surge in state tax collections. The state recently reported its highest-ever monthly collection of state General Fund receipts and it has stockpiled huge amounts in its budget reserves. The General Fund pays for most state services, including education and public safety.The governor also acknowledged the challenges caused by sharply rising consumer prices — a common theme for Republicans campaigning in Kentucky and across the country.Pandemic woes: "Inflation is making it tough for our families to meet basic needs," Beshear said Thursday.Following the governor's announcement, the Kentucky Republican Party tried to link Beshear with President Joe Biden in a statement that focused on surging inflation."The economy is definitely on fire, and the Biden-Beshear agenda is responsible for putting a match to our wallets," said state GOP spokesman Sean Southard.The governor was asked about prospects for parts of eastern Kentucky struggling with chronically higher unemployment rates. He said the state's overall strong economy needs to reach areas "too often left out" — including rural parts of eastern and western Kentucky and urban neighborhoods.The governor pointed to infrastructure improvements in those regions to help attract new business."We have to be intentional as we move forward in showing sites in eastern Kentucky to these companies," Beshear said. "But we are also seeing companies wanting to move towards a ready labor force as one of their most important considerations. Eastern Kentucky has an incredible workforce that is ready and that works hard. And we believe that there is going to be good news."
Kentucky posted its lowest-ever unemployment rate in April, offering more proof of the state's unprecedented economic momentum, Gov. Andy Beshear said Thursday.
The state's seasonally adjusted, preliminary jobless rate was 3.9% in April, the Democratic governor said. It's the lowest rate ever recorded in the Bluegrass State since the U.S. Bureau of Labor Statistics began reporting state rates in 1976, according to the Kentucky Center for Statistics.
"Kentucky's economy is absolutely on fire, and today's report shows that continued success is benefiting Kentuckians all across the commonwealth," Beshear said at a news conference.
More on unemployment: Kentucky using millions in federal funding to set up mobile unemployment insurance office
Beshear was joined by Lt. Gov. Jacqueline Coleman for the milestone announcement.
The governor has stressed his stewardship of the state's economy as he heads into a tough reelection campaign next year in a state trending Republican. Several GOP candidates already have entered the governor’s race and more are expected to announce bids for the state's top political job.
Beshear typically begins his weekly news conferences with the state's latest economic development announcements, often inviting executives from new or expanding companies to make remarks.
Last year, Kentucky set economic development records with $11.2 billion in business investments and the creation of 18,000-plus full-time jobs. It's also led to a prolonged surge in state tax collections. The state recently reported its highest-ever monthly collection of state General Fund receipts and it has stockpiled huge amounts in its budget reserves. The General Fund pays for most state services, including education and public safety.
The governor also acknowledged the challenges caused by sharply rising consumer prices — a common theme for Republicans campaigning in Kentucky and across the country.
Pandemic woes:
"Inflation is making it tough for our families to meet basic needs," Beshear said Thursday.
Following the governor's announcement, the Kentucky Republican Party tried to link Beshear with President Joe Biden in a statement that focused on surging inflation.
"The economy is definitely on fire, and the Biden-Beshear agenda is responsible for putting a match to our wallets," said state GOP spokesman Sean Southard.
The governor was asked about prospects for parts of eastern Kentucky struggling with chronically higher unemployment rates. He said the state's overall strong economy needs to reach areas "too often left out" — including rural parts of eastern and western Kentucky and urban neighborhoods.
The governor pointed to infrastructure improvements in those regions to help attract new business.
"We have to be intentional as we move forward in showing sites in eastern Kentucky to these companies," Beshear said. "But we are also seeing companies wanting to move towards a ready labor force as one of their most important considerations. Eastern Kentucky has an incredible workforce that is ready and that works hard. And we believe that there is going to be good news."
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