Arkansas jobless rate dips to 8.2%
by November 22, 2011 10:51 am 80 views
Arkansas’ jobless rate fell to 8.2% during October, with the number of employed increasing an estimated 7,424 from the September report, according to figures released Tuesday (Nov. 22) by the U.S. Bureau of Labor Statistics.
However, the state’s manufacturing industry continues a more than 16 year slide, with sector employment falling to an estimated 153,600 during October. The sector employed 160,000 during October 2010. The manufacturing sector, once Arkansas’ largest, reached a peak of 247,400 jobs in February 1995. Manufacturing employment is now at numbers not seen since the mid-1960s.
The October rate marks the 32nd consecutive month the Arkansas jobless rate has been above 7%. During October 2010, the jobless rate was 7.9%
The number of employed in Arkansas during October was 1.246 million, up from the 1.239 million during September, but below the 1.249 million during October 2010. The number of unemployed during October was 111,756, well above the 106,518 during October 2010.
State officials focused on the monthly gain in jobs.
“This is the first time Arkansas’ unemployment rate has declined since March 2011. The drop in the rate relates to a gain of 7,500 employed, which is the largest monthly employment increase of the year,” noted Kimberly Friedman, communications director for the Arkansas Department of Workforce Services.
Arkansas was one of 40 states to post an unemployment rate decrease in October compared to October 2010, according the BLS report. The report noted that 8 states posted jobless rate increases compared to October 2010, and two states were unchanged.
SECTOR JOBS
• In the state’s Trade, Transportation and Utilities sector — Arkansas’ largest job sector — employment during October was an estimated 232,200, down from 235,100 during October 2010.
• Employment in the government sector, now the second-largest jobs sector in Arkansas, during October was 220,100, higher than the 216,100 during October 2010.
• Arkansas’ Education and Health Services sector — the third-largest jobs sector —employed 169,300 during October, up over the 167,400 during October 2010.
• The Leisure and Hospitality sector (business and tourism travel industry) employed 104,500 during October, unchanged from October 2010.
• The construction sector employed an estimated 47,900 during October, unchanged from October 2010.
“Over the year, 23 states experienced statistically significant changes in employment, 22 of which were increases. The largest increase occurred in California (+239,100), followed by Texas (+231,600) and Florida (+93,900). The only state with an over-the-year statistically significant decrease in employment was Georgia (-33,300),” noted the BLS report.
The Oklahoma jobless rate was 6.1% in October, up from 5.9% in September, and down from 6.9% during October 2010. The U.S. rate during October was 9%, down from 9.1% in September and down from 9.7% in October 2010.