Fort Smith metro jobless rate rise to 8.1%

Economic conditions in the Fort Smith metro area worsened in December, with the workforce shrinking by more than 1,800 and the number of employed shrinking by more than 1,000 compared to December 2011.

The unemployment rate for the region rose to 8.1% in December, up from 7.6% in November, but below the 8.5% in December 2011.

All of the eight metro areas in or connected to Arkansas had jobless rate increases in December compared to November, and all eight areas had jobless rate declines compared to December 2011.

During December, the lowest metro jobless rate was in Northwest Arkansas with 5.1% and the highest rate was 9% in the Pine Bluff area.

According to figures released Wednesday (Jan. 30) by the U.S. Bureau of Labor Statistics, the size of the Fort Smith regional workforce during December was 125,975, down from the 127,428 during November, and below the 127,784 during December 2011.

December was the 48th consecutive month the metro jobless rate has been at or above 7%. It was also the sixth month during 2012 that the jobless rate was at or above 8%.

The regional labor force consistently remained above 130,000 beginning in November 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 December fell to 115,793 from 117.761 in November. The December employment was also below the 116,847  in December 2011.

FORT SMITH METRO NUMBERS
Unemployed persons in the region totaled an estimated 10,182 during December, above the 9,667 during November and below the 10,887 during December 2011.

The Fort Smith area manufacturing sector employed an estimated 19,000 in December, just below the 19,2100 in November, but up over the 18,700 during December 2011. Employment in the sector is down more than 35% 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 24,100 in December, up from 24,000 in November, and above the 23,600 during December 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 8,100 during December, down from 8,300 in November and above the 8,000 in December 2011. The sector reached an employment high of 9,800 in December 2008.

In Education & Health Services, employment was 15,100 during December, down from the revised 15,200 in November and below the 15,500 during December 2011.

In the Government sector, employment was 19,000 during December, down from 19,200 in November and unchanged compared to December 2011.

NATIONAL NUMBERS
Unemployment rates were lower in December than a year earlier in 290 of the 372 metropolitan areas, higher in 68 areas, and unchanged in 14 areas, noted the broad BLS report.

The U.S. unemployment rate in December was 7.8%, down from 8.5% from a year earlier. Arkansas’ jobless rate was 7.1% in December, up from 7% in November and below the 7.8% rate in December 2011.

Oklahoma’s jobless rate during December was 5.1%, down from 5.2% during November, and below the 6.3% during December 2011. The Missouri jobless rate during December was 6.7%, unchanged compared to November and below the 8% during December 2011.

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
Dec. 2012: 5.1%
Nov. 2012: 4.6%
Dec. 2011: 5.7%

Fort Smith
Dec. 2012: 8.1%
Nov. 2012: 7.6%
Dec. 2011: 8.5%

Hot Springs
Dec. 2012: 7.5%
Nov. 2012: 6.9%
Dec. 2011: 8.1%

Jonesboro
Dec. 2012: 6.8%
Nov. 2012: 6.2%
Dec. 2011: 7.2%

Little Rock-North Little Rock-Conway
Dec. 2012: 6.3%
Nov. 2012: 5.8%
Dec. 2011: 6.7%

Memphis-West Memphis
Dec. 2012: 8.6%
Nov. 2012: 7.7%
Dec. 2011: 8.9%

Pine Bluff
Dec. 2012: 9%
Nov. 2012: 8.2%
Dec. 2011: 9.7%

Texarkana
Dec. 2012: 5.7%
Nov. 2012: 5.4%
Dec. 2011: 6.9%

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%