Fort Smith jobless rate dips to 7.9%

The Fort Smith metro area jobless dipped to an estimated 7.9% in October, down from 8% during September, but above the 7.7% during October 2010.

Six of the eight eight metro areas in or connected to Arkansas saw a jobless rate increases during October compared to October 2010, with Hot Springs (7.3) and Northwest Arkansas (5.9) unchanged from October 2010. Fortunately, all eight of the metro areas posted jobless rate declines compared to September.

The rates in Tuesday’s (Dec. 6) report from the U.S. Bureau of Labor Statistics are preliminary and subject to change.

During October, the lowest metro jobless rate was 5.9% in Northwest Arkansas and the highest rate was 10% in Memphis-West Memphis. The number of unemployed in Northwest Arkansas metro area during September was 14,338, above the 13,980 during September 2010.

Arkansas’ jobless rate in October was 8.2%, down from 8.3% during September and up from 7.9% in October 2010. The Oklahoma jobless rate was 6.1% in October, down from 6.9% in October 2010. The U.S. rate during October was 9%, down from 9.7% in October 2010.

FORT SMITH METRO NUMBERS
The number of unemployed in the Fort Smith metro area was an estimated 10,467 in October, down from a revised 10,637 in September, and up compared the 10,321 unemployed in October 2010. The number of employed in the metro area during October was 121,676, above the 121,576 employed in the area during September, and down compared to the 123,700 during October 2010.

The size of the metro workforce in October was 132,143, down from 132,213 in September and below the 134,021 in October 2010. The workforce is down from a June 2007 high of 140,542.

Fort Smith’s manufacturing sector employed an estimated 20,700 in October, unchanged from September, and lower than the 21,300 in October 2010. Employment in the sector is down 32.57% from more than 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 —  totaled 23,800 in October, up from a revised 23,600 in September and down from the 24,100 the sector employed in October 2010. Employment in the sector is off from the high of 25,700 posted in December 2007.

Employment in the region’s tourism industry continues to show year-over-year gains, but is on a three-month decline. October employment was an estimated 9,000. The sector employed 9,200 in September and 8,700 during October 2010. The sector reached an employment high of 9,800 in August 2008.

In Education & Health Services, employment was 16,200 during October, unchanged from September and unchanged compared to October 2010. This employment sector has proven somewhat resilient during the recession and the weak recovery. Peak employment in the sector of 16,400 was reached in May.

NATIONAL NUMBERS
Unemployment rates were lower in October than a year earlier in 281 of the 372 metropolitan areas, higher in 76 areas, and unchanged in 15 areas, noted the BLS report. Also, eight areas recorded jobless rates of at least 15%, while 21 areas registered rates of less than 5%.

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
Oct. 2011: 5.9%
Sept. 2011: 6.3%
Oct. 2010: 5.9%

Fort Smith
Oct. 2011: 7.9%
Sept. 2011: 8%
Oct. 2010: 7.7%

Hot Springs
Oct. 2011: 7.3%
Sept. 2011: 7.7%
Oct. 2010: 7.3%

Jonesboro
Oct. 2011: 6.9%
Sept. 2011: 7.4%
Oct. 2010: 6.8%

Little Rock-North Little Rock-Conway
Oct. 2011: 6.8%
Sept. 2011: 7.1%
Oct. 2010: 6.4%

Memphis-West Memphis
Oct. 2011: 10%
Sept. 2011: 10.4%
Oct. 2010: 9.6%

Pine Bluff
Oct. 2011: 9.5%
Sept. 2011: 10.1%
Oct. 2010: 8.8%

Texarkana
Oct. 2011: 7.4%
Sept. 2011: 7.8%
Oct. 2010: 7.1%

FORT SMITH METRO AREA HISTORY
Past annual average unemployment rates
2010: 8.2%
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%