Fort Smith area jobless rate up in June

Not only did the June unemployment rate for the Fort Smith region increase to 7.9%, but the May unemployment rate was revised up from 7.8% to 7.9%. However, both numbers are a welcome retreat from the 8.2% in June 2009.

According to a report from the U.S. Bureau of Labor Statistics released Wednesday (June 28), the number of unemployed in the Fort Smith metro area was 10,600 in June, down 6.7% compared June 2009 and up 53.9% over the 6,874 unemployed in June 2008.

June 2009 marked the beginning of a high number of unemployed in the Fort Smith metro area that peaked with 11,937 in January.

Total nonfarm payroll in June was 115,700, down from the 116,500 in May, and down 1.9% compared to June 2009.

Civilian labor force levels in the metro area increased 0.3% to 134,482 in June compared to May. The June labor force is 2.6% lower than the 138,140 in June 2009, which could indicate that people are moving out of the area to find work elsewhere.

Fort Smith’s manufacturing sector employed an estimated 21,500 in June, relatively flat with the revised 21,600 in May. The sector employed 22,000 in June 2009. The manufacturing sector has trended upward since January when the job count was 21,300. Employment in the sector is down 29.9% from a decade ago when January 2001 manufacturing employment in the metro area stood at 30,700.

Jobs in the Trade, Transportation and Utilities sector — the region’s largest job sector —  grew from 23,300 in May to 23,500 in June. The sector employed 24,000 in June 2009.

Hot Springs was the only Arkansas metro area to see a jobless rate decline in June. The other areas saw an increase or were flat compared to May.

Arkansas’ June unemployment rate was 7.5%, and the Oklahoma rate was 6.8%. The U.S. unemployment rate in June was 9.5%.

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
June 2010: 6.2%
June 2009: 6.5%
May 2010: 6.1%

Fort Smith
June 2010: 7.9%
June 2009: 8.2%
May 2010: 7.9%

Hot Springs
June 2010: 7.4%
June 2009: 7.4%
May 2010: 7.6%

Jonesboro
June 2010: 7.2%
June 2009: 7.5%
May 2010: 7.2%

Little Rock-North Little Rock-Conway
June 2010: 6.8%
June 2009: 6.8%
May 2010: 6.8%

Memphis-West Memphis
June 2010: 10.4%
June 2009: 10.5%
May 2010: 10.2%

Pine Bluff
June 2010: 9.2%
June 2009: 9.4%
May 2010: 9.1%

Texarkana
June 2010: 7.5%
June 2009: 6.6%
May 2010: 7.1%

FORT SMITH METRO AREA HISTORY
Past annual average unemployment rates
2009: 7.9%
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%