Fort Smith metro jobless rate down to 7.6% in September

With the number of unemployed falling below 10,000 and the number of unemployed back above 120,000, the Fort Smith regional jobless rate was 7.6% in September, down from a 7.9% in August and down from 8.4% in September 2011.

However, September was the 45th consecutive month the metro jobless rate has been at or above 7%.

According to figures released Tuesday (Oct. 30) by the U.S. Bureau of Labor Statistics, the size of the regional workforce during September was 130,594, above the 129,904 during August, and just above the 130,474 during September 2011.

The regional labor force consistently remained above 130,000 beginning in August 2004, but fell below 130,000 in December. The labor force reached a high of 139,544 in June 2008.

The number of employed during September was 120,645, ahead of the 119,638 in August, and up over the 119,515 in September 2011.

All of the eight metro areas in or connected to Arkansas had jobless rate declines in September compared to August, and were all down compared to September 2011. During September, the lowest metro jobless rate was in Northwest Arkansas with 4.9% and the highest rate was 8.4% in the Memphis/West Memphis metro.

The Northwest Arkansas metro area fell below a 5% jobless rate for the first time since November 2008. The central Arkansas metro area fell below 6% for the time since December 2008.

FORT SMITH METRO NUMBERS
Unemployed persons in the region totaled 9,949 during September, below the 10,266 during August and below the 10,959 during September 2011.

The Fort Smith area manufacturing sector employed an estimated 19,500 in September, just below the 19,600 in August, but up over the 18,800 during September 2011. Employment in the sector is down more than 36% 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 23,600 in September, up from 23,500 in August, and above the 23,500 during September 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 8,600 during September, down from 8,700 in August and above the 8,500 in September 2011. The sector reached an employment high of 9,800 in September 2008.

In Education & Health Services, employment was 15,200 during September, unchanged from August and below the 15,900 during September 2011.

NATIONAL NUMBERS
Unemployment rates were lower in September than a year earlier in 345 of the 372 metropolitan areas, higher in 22 areas, and unchanged in 5 areas, noted the broad BLS report. Also, 35 areas recorded jobless rates of at least 10%, while 171 areas registered rates of less than 7%.

The U.S. unemployment rate in September was 7.8%, down from 9% from a year earlier.

Arkansas’ jobless rate was 7.1% in September, down from 7.3% in August and below the 8.1% rate in September 2011.

Oklahoma’s jobless rate during September was 5.2%, up from 5.1% during August, and below the 6.3% during September 2011. The Missouri jobless rate during September was 6.9%, down from 7.2% in August, and below the 8.5% during September 2011.

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
Sept. 2012: 4.9%
Aug. 2012: 5.3%
Sept. 2011: 6%

Fort Smith
Sept. 2012: 7.6%
Aug. 2012: 7.9%
Sept. 2011: 8.4%

Hot Springs
Sept. 2012: 6.8%
Aug. 2012: 7.3%
Sept. 2011: 7.9%

Jonesboro
Sept. 2012: 6.4%
Aug. 2012: 6.6%
Sept. 2011: 7.3%

Little Rock-North Little Rock-Conway
Sept. 2012: 5.9%
Aug. 2012: 6.3%
Sept. 2011: 6.9%

Memphis-West Memphis
Sept. 2012: 8.4%
Aug. 2012: 8.9%
Sept. 2011: 10%

Pine Bluff
Sept. 2012: 8.2%
Aug. 2012: 8.8%
Sept. 2011: 9.9%

Texarkana
Sept. 2012: 6.1%
Aug. 2012: 6.7%
Sept. 2011: 7.5%

FORT SMITH METRO AREA HISTORY
Past annual average unemployment rates
2011: 8.6%
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%