Labor Force Contracts For Third Straight Month As Jobless Rate Holds Steady

Arkansas’ civilian labor force contracted for the third straight month, but the state’s August jobless rate remained steady at 7.3%.

The unemployment rate in Arkansas is 0.8% below the 8.1% rate from August 2011. The measurement was 7.3% in July 2012. U.S. unemployment fell two-tenths of a percent in August to 8.1%.

The state’s civilian labor force fell to 1,379,400 in August, down by a net 3,600 workers from the previous month. Arkansas Department of Workforce Services officials reported that civilian employment fell by 3,000 between July and August, while the number of unemployed declined by 600 workers.

“Reductions in both employment and unemployment made for a smaller civilian labor force.  This collective combination of decreases produced no change in the unemployment rate,” said DWS spokeswoman Kimberly Friedman. “There are still 11,000 fewer unemployed Arkansans than in August 2011.”

A year ago the number of unemployed workers topped 111,100 in Arkansas. That number stood at 100,100 in August 2012.

While the labor information was compiled from U.S. Bureau of Labor Statistics data, the Monthly Survey of Employers benchmarked key sector gainers and decliners.

A year-over-year breakdown of industry classifications shows net changes between August 2012 and the previous year’s comparable month:

Mining/Logging  +300
Construction  -2,400
Manufacturing   -1,200
Trade/Transportation  -200
Information  -300
Financial   +300
Professional/Business  +500
Education/Health   +7,500
Leisure/Hospitality  +4,300
Government  +700

You can read the full report here.