Arkansas Unemployment Holds Steady At 7.6% In February
by March 30, 2012 11:58 am 65 views
Arkansas’ February state jobless rate was unchanged from January at 7.6%, according to the latest report from the Arkansas Department of Workforce Services.
One year ago, unemployment in Arkansas was 8.0%. The state average is well below the national unemployment rate of 8.3%.
Employment rose by 3,400 jobs in February from the previous month continuing some positive momentum in the jobs market. Employment rose to 1,280,700 workers, 21,000 more jobs than in February 2011.
“Employment in Arkansas increased 3,400 this month, marking the seventh consecutive month of employment growth,” said Kimberly Friedman, DWS communications director. The 3,400 job gains were offset by 400 fewer workers in the civilian labor force for a net increase in employment of 3,000 workers.
The payroll jobs report, a separate report put out in conjunction with unemployment data, shows worsening news for Arkansas’ manufacturing sector. Year-over-year job losses in manufacturing fell by 5,200 workers. Financial services has seen a 1,000 employee decline and information jobs have fallen by 800. It should be noted that those are all high-paying job sectors.
On the positive side, construction jobs are up a net 1,700 employees from one year ago. Warm weather conditions have aided the industry. Education and health has grown by 4,500 in the last 12 months, while hospitality jobs have grown by 3,700.
Government job growth is up a net 4,600 workers despite federal jobs being cut by 800 for the year. Most of the growth comes from local government job growth, which is attributed to public schools in higher growth areas of the state not city and county government employment.
Overall, five major industry sectors showed employment increases during the month, while four sectors lost jobs and two remained unchanged.