FRANKFORT, Ky. — Kentucky just posted its lowest unemployment rate in history, Gov. Andy Beshear said on Thursday.

According to data from the workforce development cabinet, Kentucky's April 2022 unemployment rate was 3.9%, the lowest ever recorded since the U.S. Bureau of Labor and Statistics began reporting state rates in 1976.

Beshear called the historic number "further proof that the Commonwealth’s record-breaking economic momentum is benefiting all Kentuckians."

"Kentucky’s economy is absolutely on fire, and today’s report shows that continued success is benefiting Kentuckians across the commonwealth,” Beshear said in a news briefing. 

The news follows a year of record-shattering economic development in areas around Kentucky. From electric vehicle and agritech-related projects to everything in between, $11.2 billion in private sector investments and over 18,000 full-time jobs have been announced in recent months.

Kentucky's monthly General Fund receipts reached a record high of $1.84 billion last week, Beshear said. Earlier this year, two financial ratings companies gave Kentucky a "positive" financial outlook rating.

But Republican leaders were quick to offer a response to what they claimed was Beshear's "spin" on the latest unemployment numbers. In a response citing the baby formula shortage, the sinking stock market and high gas prices, the Republican Party of Kentucky blasted the "Biden-Beshear" economy.

"Our labor force has 20,000 fewer people today than when Andy Beshear was elected. We’ve gotten national headlines for being a leader in people quitting their jobs. The economy is definitely on fire, and the Biden-Beshear agenda is responsible for putting a match to our wallets," the statement read.