Arkansas jobless rate up to 7.8%; manufacturing jobs gain

BusinessFort SmithNews on the Wire

by The City Wire staff ([email protected]) April 16, 2010 12:08 pm 71 views 

Arkansas’ unemployment rate moved higher for the second consecutive month, reaching 7.8% in March from 7.7% in February and up from 7.6% in January.

The state’s jobless rate in March 2009 was 7%.

The report released Friday (April 16) from the federal Bureau of Labor Statistics shows the state with an estimated 107,266 unemployed, up 12.2% compared to March 2009 and up an alarming 64.3% over March 2008. Also, the number of employed in March was 1.262 million, down 0.8% compared to March 2009.

“Although Arkansas is still feeling the affects of the recession, the increase in our rate this month follows historical trends. In the last 10 years, Arkansas’ March rate has increased five times,” Kimberly Friedman, communications director for the Arkansas Department of Workforce Services, said in a statement.

The U.S. jobless rate was 9.7% in March, unchanged from February. The Oklahoma unemployment rate in March was 6.6%, down from 6.8% in February.

Arkansas’ manufacturing employment, however, increased for the second consecutive month in March, reaching an estimated 160,900 compared to 159,300 in February and 157,700 in January. The March 2010 manufacturing employment was down 4.6% compared to March 2009.

The manufacturing sector in Arkansas, has lost 71,400 jobs in the past 10 years (March 2001-March 2010), or 30.7% of sector employment.

Employment data for the Fort Smith metro area is set for release April 28.

YEAR-OVER-YEAR
• Arkansas’ civilian labor force stood at an estimated 1.370 million in March, down 0.5% compared to February 2010 and relatively flat compared to 1.369 million in March 2009.

• Construction jobs recovered to 52,600 jobs in March after falling below 50,000 in February for the first time since December 1998. Jobs in the sector were up 0.5% compared to March 2009.

• The number of government jobs continued to grow in March, with an estimated 218,400 employed in the sector, up 1.15% over March 2009.

• Trade, transportation and utilities, the largest sector in the Arkansas economy, continues an overall decline that began in January 2008. Jobs in this sector totaled 226,900 in March, down 4.7% from March 2009. The sector has lost 22,700 jobs since March 2008.

• Arkansas’ tourism and hospitality sector continues to see job losses,. The leisure and hospitality sector employed an estimated 99,300 in March, down 0.7% compared to March 2009.