NWA jobless rate falls to 5.1% in April

The workforce size in Northwest Arkansas grew by almost 5,000 in April compared to March, with the number of employed up more than an estimated 5,400 – two clear signs of a thriving regional economy.

The April jobless rate in the region was 5.1%, better than the 5.5% in March and better than the 5.3% in April 2012.

Seven of the eight metro areas in or connected to Arkansas had jobless rate decreases in April compared to April, but had jobless rate increases compared to April 2012. Only the Northwest Arkansas area saw jobless rate improvements compared to April and the April 2012 period.

During April, the lowest metro jobless rate in the state was in Northwest Arkansas with 5.1% and the highest rate was 9.2% in the Pine Bluff area.

NWA METRO NUMBERS
According to figures released Wednesday (May 29) by the U.S. Bureau of Labor Statistics, the size of the Northwest Arkansas regional workforce during April was 239,646, up from the 234,757 during March, and ahead of the 234,287 during April 2012.

Northwest Arkansas continues to trend upward in that category. The average annual monthly labor size was 231,461 during 2012, 227,938 during 2010 and 225,177 during 2009.

The number of employed during April rose to 227,383 from 221,937 in March. The April employment was also higher than the 221,842 in April 2012.

Following are other key figures from the BLS metro report.
• Unemployed persons in the region totaled 12,264 during April, below the 12,820 during March and below the 12,442 during April 2012.

• The Northwest Arkansas manufacturing sector employed an estimated 26,400 in April, down compared to 27,000 in March, and below the 26,700 during April 2012. Sector employment is down more than 18% from more than a decade ago when April 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 50,100 in April, up from 49,100 during March, and up from the 47,300 during April 2012. Employment in the sector is slightly off from the high of 50,500 posted in April 2006.

• Employment in the region’s tourism industry was 21,600 during April, up from 20,500 in March and up from 20,300 during April 2012. The April employment is a new record for the sector, although the figure could be revised in subsequent reports.

• In Education & Health Services, employment was 25,300 during April, up from 24,900 during March and up from 23,500 during April 2012.

• In the Government sector, employment was 30,500 during April, down from 30,800 in March and up compared to 30,000 during April 2012.

NATIONAL NUMBERS
Unemployment rates were lower in April than a year earlier in 276 of the 372 metropolitan areas, higher in 78 areas, and unchanged in 18 areas, noted the broad BLS report.

The U.S. unemployment rate in April was 7.1%, down from 7.7% from a year earlier. Arkansas’ jobless rate was 7.1% in April, down from 7.2% in March and below the 7.3% rate in April 2012.

Oklahoma’s jobless rate during April was 4.9%, down from 5% in April, and below the 5% during April 2012. The Missouri jobless rate during April was 6.6%, compared to 6.7% in March and 7% during April 2012.

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
April 2013: 5.1%
April 2013: 5.5%
April 2012: 5.3%

Fort Smith
April 2013: 7.2%
April 2013: 7.9%
April 2012: 7.1%

Hot Springs
April 2013: 7.1%
April 2013: 7.7%
April 2012: 7%

Jonesboro
April 2013: 6.5%
April 2013: 6.9%
April 2012: 6.4%

Little Rock-North Little Rock-Conway
April 2013: 6.2%
April 2013: 6.7%
April 2012: 6.1%

Memphis-West Memphis
April 2013: 9%
April 2013: 9.3%
April 2012: 8.5%

Pine Bluff
April 2013: 9.2%
April 2013: 9.8%
April 2012: 8.5%

Texarkana
April 2013: 6.7%
April 2013: 6.9%
April 2012: 6.5%

NORTHWEST ARKANSAS METRO AREA HISTORY
Past annual average unemployment rates
2012: 5.6%
2012: 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%