Fort Smith area jobless rate improves; manufacturing job losses end nine-month slide

July marked an end to nine consecutive months of manufacturing employment decline in the Fort Smith metro area, with the area unemployment rate dropping from 7.8% in June to 7.7% in July.

Also, the Fort Smith metro area was the only metro area in Arkansas to post an unemployment rate decline.

According to the U.S. Bureau of Labor Statistics released Tuesday (Sept. 1), there were an estimated 10,862 unemployed in the Fort Smith metro area in July, up 56.1% over the 6,956 unemployed in July 2008.

The July report provides some indication that the employment situation in the area has stabilized.

The Fort Smith metro unemployment rates for the previous six months were:
June 2009: 7.8%
May 2009: 7.5%
April 2009: 7.1%
March 2009: 7.3%
Feb. 2009: 7.7%
Jan. 2009: 7.7%

The Arkansas unemployment rate in July was 7.4%, up from 7.2% in June. The U.S. unemployment rate in July was 9.4%, down from 9.5% in June.

According to the preliminary federal figures, manufacturing employment in the Fort Smith metro area has dipped 8.4% in the past 12 months. Regional manufacturing jobs totaled an estimated 22,800 in July, the same level as June 2008. The annual average manufacturing employment in the Fort Smith area fell from 31,700 in 1999 to 25,000 in 2008, a decline of more than 21%.

FORT SMITH METRO AREA HISTORY
Past annual average employment rates
2008: 4.8%
2007: 5.3%
2006: 4.9%
2005: 4.5%
2004: 5.2%
2003: 5.5%
2002: 5%
2001: 4.2%
2000: 3.7%

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
July 2009: 6.2%
June 2009: 6.1%
July 2008: 4.2%

Hot Springs
July 2009: 7.1%
June 2009: 7%
July 2008: 5.4%

Jonesboro
July 2009: 7.3%
June 2009: 7.2%
July 2008: 5.1%

Little Rock-North Little Rock-Conway
July 2009: 6.7%
June 2009: 6.6%
July 2008: 4.6%

Memphis-West Memphis
July 2009: 10.3%
June 2009: 10.3%
July 2008: 7%

Pine Bluff
July 2009: 9.9%
June 2009: 9.5%
July 2008: 7.5%

Texarkana
July 2009: 6.7%
June 2009: 6.5%
July 2008: 4.8%