Fort Smith metro jobless rate drops slightly to 8.8%

The Fort Smith metro area unemployment rate February was 8.8%, a small drop from the 8.9% rate in January, but still one of the highest metro rates in Arkansas. The rate is also higher compared to the 7.7% in February 2009.

A bright spot in the report is that the region added 300 manufacturing jobs in February compared to January. Also, of Arkansas’ eight metro areas, the Fort Smith metro area was one of three (joining Memphis/West Memphis and Pine Bluff) to see an unemployment rate decline in February.

According to figures released Wednesday (April 7) by the federal Bureau of Labor Statistics, the preliminary report shows record number of unemployed in the Fort Smith metro area at 11,850, 10.9% higher than February 2009 and 78.8% higher than the 6,627 unemployed in February 2008.

The number of employed totaled 123,195 in February 2010, up 0.8% from the 127,364 in January 2010, but down 4% from the 128,367 employed in February 2009. The February employment is down considerably from the 2009 peak of 131,119 in September.

Overall, Fort Smith metro manufacturing employment continues a downward trend, with an estimated 21,600 employed in the sector in February, down 3.5% from February 2009 — and down 29.6% from a decade ago when January 2001 manufacturing employment stood at 30,700.

Arkansas’ unemployment rate moved slightly higher to 7.7% in February after three consecutive months of being parked at 7.6%. The rate was 6.8% February 2009. The U.S. jobless rate was 9.7% in February. The Oklahoma unemployment rate in February was 6.7%, unchanged from January and down one-tenth of a percentage point from the 6.8%. The Oklahoma jobless rate in February 2009 was 5.5%.

• ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
February 2010: 7%
February 2009: 5.8%
January 2010: 6.8%

Fort Smith
February 2010: 8.8%
February 2009: 7.7%
January 2010: 8.9%

Hot Springs
February 2010: 8.9%
February 2009: 7%
January 2010: 8.7%

Jonesboro
February 2010: 8.1%
February 2009: 6.6%
January 2010: 8.1%

Little Rock-North Little Rock-Conway
February 2010: 7.6%
February 2009: 5.9%
January 2010: 7.4%

Memphis-West Memphis
February 2010: 10.9%
February 2009: 8.9%
January 2010: 11.2%

Pine Bluff
February 2010: 10.3%
February 2009: 8.8%
January 2010: 10.5%

Texarkana
February 2010: 8%
February 2009: 5.7%
January 2010: 8%

• 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%