Arkansas Unemployment Rate Rises In May To 7.3%

Arkansas' jobless rate rose one-tenth of a percent to 7.3% in May keeping pace with a national increase in unemployment.

Since January, unemployment had fallen from 7.6%, according to statistics provided by the U.S. Department of Labor and the Arkansas Department of Workforce Services (DWS).

Arkansas' rate of 7.3% was nearly a full-point below the U.S. jobless rate of 8.2%. One year ago, the state unemployment rate stood t 8.1%.

“The unemployment rate in Arkansas rose one-tenth of a percentage point in May, mirroring the trend seen at the national level.  While the number of unemployed increased slightly this month, there are still 9,500 fewer unemployed and 33,200 more employed Arkansans than in May 2011,” said DWS Communications Director Kimberly Friedman.

Arkansas' civilian workforce has grown by 23,700 during the past 12 months. A net addition of 33,200 jobs have been added to the employment rolls since May 2011, while the number of unemployed has fallen by 9,500. Currently, employment in Arkansas stands at 1,289,400 and unemployed Arkansans are an estimated 101,000.

GAINERS & DECLINERS
Turning to year-over-year sector changes, the biggest gainers include Leisure and Hospitality (+4,900), Education and Health (+4,500), and Government (+3,700).

DWS officials said most of the growth in the Government sector could be attributed to public school expansions.

The biggest industry decliners during the past 12 months include Manufacturing (-2,900), Professional and Business (-1,800), and Construction (-1,600).

The manufacturing losses were a result of layoffs and closures, according to state workforce officials.

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