Fort Smith metro jobless rate drops to 7.1% (Updated)

The Fort Smith metro unemployment rate during August fell to 7.1%, a welcome decline from the 7.7% posted in July and the 7.8% in June.

However, the rate is still considerably higher than the 4.6% unemployment rate of August 2008, according to figures released Wednesday (Sept. 30) by the U.S. Department of Labor. Also, the number of unemployed in the Fort Smith area was 10,006 in August, up 55.4% over the 6,435 unemployed in August 2008.

Updated info: Gov. Mike Beebe told The City Wire that the 7.1% rate is "still too high," and that the state is working on a project "as we speak" that could bring more jobs to the area. Beebe said he could offer no details, but said the effort to recruit and retain jobs is a "constant struggle and constant battle." (Also, see unemployment rates for other Arkansas metro areas at the end of this story.)

The monthly Fort Smith metro unemployment rates for 2009 are:
July 2009: 7.7%
June 2009: 7.8%
May 2009: 7.5%
April 2009: 7.1%
March 2009: 7.3%
Feb. 2009: 7.7%
Jan. 2009: 7.7%

Arkansas’ unemployment rate in August fell to 7.1%, down from 7.4% in July, marking the first monthly decline since January 2008. Unfortunately, the August rate is significantly higher than the 5.1% in August 2008. The U.S. jobless rate in August was 9.7%, up from 9.4% in July and a big increase from the 6.2% in August 2008.

August also saw a renewed decline in Fort Smith area manufacturing jobs. July had marked an end to nine consecutive months of manufacturing employment decline in the Fort Smith metro area. August manufacturing employment in the area fell to 22,600, down from the 22,800 in July and down 8.8% from August 2008.

Since August 2008, Arkansas manufacturing employment has fallen 11.3% to 161,700 in August 2009. The Arkansas DWS estimates that more than 85% of the loss occurred in durable goods, which is the primary component of manufacturing in the Fort Smith region.

Fort Smith metro sectors seeing August gains in employment were professional and business services (13,700 jobs, compared to 13,300 in July), education and health services (16,400 jobs, compared to 16,300 in July) and government (18,000 jobs, compared to 17,300 in July).

The Northwest Arkansas metro area saw its August unemployment rate fall to 5.4%, compared to 6.2% in July. The area’s August 2008 jobless rate was 3.9%

The Little Rock-North Little Rock metro area saw its August unemployment rate fall to 6%, compared to 6.7% in July. The area’s August 2008 jobless rate was 4.4%

FORT SMITH METRO AREA HISTORY
Past annual average unemployment 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
August 2009: 5.4%
July 2009: 6.2%
August 2008: 3.9%

Hot Springs
August 2009: 6.4%
July 2009: 7%
August 2008: 5.2%

Jonesboro
August 2009: 6.4%
July 2009: 7.2%
August 2008: 4.8%

Little Rock-North Little Rock-Conway
August 2009: 6%
July 2009: 6.7%
August 2008: 4.4%

Memphis-West Memphis
August 2009: 10.4%
July 2009: 10.3%
August 2008: 7.1%

Pine Bluff
August 2009: 9.1%
July 2009: 9.8%
August 2008: 7.3%

Texarkana
August 2009: 6.4%
July 2009: 6.4%
August 2008: 4.9%