November NWA jobless rate falls to 4.6%

The numbers of unemployed and employed keep going in the right direction in Northwest Arkansas, with the November jobless rate in the region falling to 4.6% compared to 5% in October and 5.4% in November 2011.

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

During November, the lowest metro jobless rate was in Northwest Arkansas and the highest rate was 8.3% in the Pine Bluff area.

According to figures released Tuesday (Jan. 8) by the U.S. Bureau of Labor Statistics, the size of the Northwest Arkansas regional workforce during November was 237,618, down from the 238,369 during October, but well ahead of the 233,137 during November 2011.

Northwest Arkansas continues to trend upward in that category. The average annual monthly labor size was 231,461 during 2011, 227,938 during 2010 and 225,177 during 2009.

The number of employed during November rose slightly to 226,624 from a revised 226,480 in October. The November employment was more than 6,000 jobs higher than the 220,567 in November 2011.

NORTHWEST ARKANSAS METRO NUMBERS
Unemployed persons in the region totaled 10,994 during November, below the 11,889 during October and well below the 12,570 during November 2011.

The Northwest Arkansas manufacturing sector employed an estimated 27,900 in November, down compared to 28,000 in October, but ahead of the 27,400 during November 2011. Sector employment is down more than 18% from more than a decade ago when January 2002 manufacturing employment in the metro area stood at 34,300.

Jobs in the Trade, Transportation and Utilities sector — the region’s largest job sector —  totaled 47,600 in November, down from 46,700 during October, and up from the 45,500 during November 2011. Employment in the sector is off from the high of 50,500 posted in December 2006.

Employment in the region’s tourism industry was 20,500 during November, down from 20,600 in October and up from 19,000 during November 2011. Employment in the sector set a new record (20,800) in June.

In Education & Health Services, employment was 24,600 during November, up from 24,000 during October and up from 23,000 during November 2011.

NATIONAL NUMBERS
Unemployment rates were lower in November than a year earlier in 322 of the 372 metropolitan areas, higher in 36 areas, and unchanged in 14 areas, noted the broad BLS report.

The U.S. unemployment rate in November was 7.8%, down from 8.2% from a year earlier. Arkansas’ jobless rate was 7% in November, down from 7.2% in October and below the 7.9% rate in November 2011.

Oklahoma’s jobless rate during November was 5.2%, down from 5.3% during October, and below the 6.3% during November 2011. The Missouri jobless rate during November was 6.7%, compared to 6.9% in October and 8.1% during November 2011.

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
Nov. 2012: 4.6%
Oct. 2012: 5%
Nov. 2011: 5.4%

Fort Smith
Nov. 2012: 7.6%
Oct. 2012: 8%
Nov. 2011: 8.1%

Hot Springs
Nov. 2012: 6.8%
Oct. 2012: 7.1%
Nov. 2011: 7.5%

Jonesboro
Nov. 2012: 6.2%
Oct. 2012: 6.5%
Nov. 2011: 6.5%

Little Rock-North Little Rock-Conway
Nov. 2012: 5.8%
Oct. 2012: 6%
Nov. 2011: 6.3%

Memphis-West Memphis
Nov. 2012: 7.7%
Oct. 2012: 8.6%
Nov. 2011: 9.1%

Pine Bluff
Nov. 2012: 8.3%
Oct. 2012: 8.4%
Nov. 2011: 9.3%

Texarkana
Nov. 2012: 5.6%
Oct. 2012: 6%
Nov. 2011: 6.8%

NORTHWEST ARKANSAS METRO AREA HISTORY
Past annual average unemployment rates
2011: 6.2%
2010: 6.5%
2009: 6.1%
2008: 4.1%
2007: 3.8%
2006: 3.6%
2005: 3.3%
2004: 3.8%
2003: 3.7%
2002: 3.3%
2001: 3%
2000: 2.9%