Area jobless rate rises; job numbers fall

The number of employed in the Fort Smith region fell to an estimated 115,893 during January, a low not seen since January 1998.

Fort Smith’s metro area jobless rate jumped to 8.9% in January, almost a full percentage higher than the December rate, but below the 9.2% during January 2011.

A dip in the size of the Fort Smith metro workforce and an increase in the number of unemployed contributed to the increase, according to the U.S. Bureau of Labor Statistics report.

The size of the workforce fell to 127,181 during January, well below the 130,064 during December. March 2004 was the last time the regional workforce was below 130,000. The number of unemployed in the metro area during January was 11,288, above the 10,342 during December, but down 7.5% compared to January 2011.

However, historical data shows a tendency for a big increase in the jobless rate between December and January, even when regional economic conditions are good. For example, the January 2004 jobless rate in the Fort Smith region was 5.8%, up from 5.1% during December 2003.

The eight metro areas in or connected to Arkansas had jobless rate increases in January compared to December, and all posted jobless rates lower than January 2011.

During January, the lowest metro jobless rate was 6.2% in Northwest Arkansas and the highest rate was 10.3% in Pine Bluff.

FORT SMITH METRO NUMBERS

The number of employed during January was an estimated 115,893, more than 3,800 jobs fewer than December 2011 and almost 5,000 jobs below the 120,880 employed in the area during January 2011.

Fort Smith’s manufacturing sector employed an estimated 18,600 in January, below the 18,700 in December 2011, and below the 20,800 during January 2011. Employment in the sector is down more than 39% 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 23,300 in January, down from 23,600 in December, and below the 23,700 during January 2011. Employment in the sector is off from the high of 25,700 posted in December 2007.

Employment in the region’s tourism industry was 7,900 during January, down from 8,000 during December and down from 8.3% during January 2011. The sector reached an employment high of 9,800 in August 2008.

In Education & Health Services, employment was 15,500 during January, unchanged from a revised November tally and down from 16,200 during January 2011. 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 December than a year earlier in 329 of the 372 metropolitan areas, higher in 36 areas, and unchanged in 7 areas, noted the BLS report. Also, 10 areas recorded jobless rates of at least 15%, while 24 areas registered rates of less than 5%.

Unemployment rates were lower in January than a year earlier in 345 of the 372
metropolitan areas, higher in 16 areas, and unchanged in 11 areas. Of the metro areas, 13 recorded jobless rates of at least 15%, and 13 registered rates of less than 5%.

The U.S. unemployment rate in January was 8.8%, down from 9.8% a year earlier.

Oklahoma’s jobless rate during January was 6.1%, down from 6.3% during December, and below the 6.2% during January 2011. The Missouri jobless rate during January was 7.5%, down from 8% in December, and well below the 9% during January 2011.

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
Jan. 2012: 6.2%
Dec. 2011: 5.6%
Jan. 2011: 6.8%

Fort Smith
Jan. 2012: 8.9%
Dec. 2011: 8%
Jan. 2011: 9.2%

Hot Springs
Jan. 2012: 8.4%
Dec. 2011: 7.4%
Jan. 2011: 8.9%

Jonesboro
Jan. 2012: 8%
Dec. 2011: 6.9%
Jan. 2011: 8.3%

Little Rock-North Little Rock-Conway
Jan. 2012: 7.1%
Dec. 2011: 6.5%
Jan. 2011: 7.5%

Memphis-West Memphis
Jan. 2012: 9.4%
Dec. 2011: 8.8%
Jan. 2011: 10.3%

Pine Bluff
Jan. 2012: 10.3%
Dec. 2011: 9.4%
Jan. 2011: 10.9%

Texarkana
Jan. 2012: 7.5%
Dec. 2011: 6.8%
Jan. 2011: 7.8%

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%