Metro Jobless Rates Rise From June, But Decline From Year Ago

The good news is that all eight metro areas in or connected to Arkansas had jobless rate decreases in July compared to July 2011. Unfortunately, seven of the eight saw an increase in the jobless rate between June and July.

During July, the lowest metro jobless rate was in Northwest Arkansas with 6.1%, and the highest rate was 9.8% in Pine Bluff. The Memphis-West Memphis metro jobless rate during July was 9.6%, unchanged from June.

“The not-seasonally-adjusted figures showed some sharp increases from the previous month, but these changes were driven by the typical summer upturn associated with students and teachers being off for the summer,” said Michael Pakko, University of Arkansas Institute for Economic Advance chief economist and state economic forecaster.

Nationwide, July jobless rates were higher in 276 of the 372 U.S. metro areas compared to July 2011.

The U.S. jobless rate during July was 8.3%, up from 8.2% in June and below 9.1% during July 2011. Oklahoma’s jobless rate was 4.9% in July, up from 4.7% in June and well below the 6.2% during July 2011. The jobless rate in Missouri during July was 7.2%, up from 7.1% during June and below the 8.6% during July 2011.

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
July 2012: 6.1%
June 2012: 5.7%
July 2011: 6.8%

Fort Smith
July 2012: 8.5%
June 2012: 7.7%
July 2011: 8.8%

Hot Springs
July 2012: 8%
June 2012: 7.6%
July 2011: 8.3%

Jonesboro
July 2012: 7.6%
June 2012: 7.1%
July 2011: 8.1%

Little Rock-North Little Rock-Conway
July 2012: 7%
June 2012: 6.6%
July 2011: 7.5%

Memphis-West Memphis
July 2012: 9.6%
June 2012: 9.6%
July 2011: 10.3%

Pine Bluff
July 2012: 9.8%
June 2012: 9.2%
July 2011: 10.9%

Texarkana
July 2012: 7%
June 2012: 6.9%
July 2011: 8.1%