Arkansas’ June jobless rate up to 7.2%; Oklahoma falls to 6.3%
by July 17, 2009 10:53 am 65 views
Arkansas’s preliminary unemployment rate in June was 7.2%, up considerably compared to the June 2008 rate of 5%, and up over the 7% rate in May.
The last time Arkansas’ unemployment rate was 7.2% or higher was June 1992.
The Oklahoma unemployment rate in June was 6.3%, compared to 4.6% in June 2008, but down from 6.4% in May. The U.S. jobless rate in June rose one-tenth of a percentage point to 9.5%.
Arkansas’ civilian labor force gained 7,200 in June, with 3,400 more employed and 3,800 more unemployed Arkansans.
Officials with the Arkansas Department of Workforce Services continue with the mantra that Arkansas’ jobless rate is not as bad as the nationwide figure.
“Arkansas’ unemployment rate followed the national trend and increased over the month. While total nonfarm jobs advanced, current economic conditions caused layoffs in multiple industries in the service providing sector. Arkansas’ rate is still significantly lower than the national rate,” DWS spokesman Kimberly Friedman said in a statement.
According to the DWS report, Arkansas’ nonfarm payroll employment declined 26,600 since June 2008, with the loss of manufacturing jobs accounting for 20,100 of that decline. Unfortunately, the durable goods manufacturing sector — which is the bulk of manufacturing jobs in the Fort Smith region — suffered the biggest decline with the loss of 16,300 jobs between June 2008 and June 2009.
Trade, transportation, and utilities lost 11,400 jobs between June 2008 and June 2009, with 5,000 fewer jobs in retail trade and 5,700 fewer jobs in the transportation-warehousing-utilities sector.
Employment fell in the 12-month period by 6,300 jobs in professional and business services decreased.
The star of Arkansas’ economy continues to be the health services and education sector. That sector saw a gain of 11,600 jobs between June 2008 and June 2009. More than 75% of the growth occurred in health care and social assistance, according to DWS.
Government jobs increased by 5,200 in the past 12 months.
“State government accounted for most of the gain, as educational facilities expanded and hiring increased as a result of stimulus funding,” noted the DWS report.
The unemployment report for Arkansas’ metropolitan areas will be released July 29.