NWA jobless rate rises to 5.9% in July

The Northwest Arkansas jobless rate rose to 5.9% in July, the third consecutive monthly rate increase and proof that not even one of the healthiest regions in the country is immune from the whims of a on-again, off-again national economic recovery.

However, employment in the region’s largest sector – trade, transportation and utilities – reached a new high in July.

A slight decline (0.17%) in the number of employed and a 2.4% gain in the number of unemployed pushed the July rate above the 5.7% in June. However, the July rate was well below the 6.2% in July 2012.

Five of the eight metro areas in or connected to Arkansas had jobless rate increases in July compared to June, and six areas had jobless rate decreases compared to July 2012.

During July, the lowest metro jobless rate in the state was in Northwest Arkansas with 5.9% and the highest rate was 10.3% in the Pine Bluff area.

NWA METRO NUMBERS
According to figures released Wednesday (Aug. 28) by the U.S. Bureau of Labor Statistics, the size of the Northwest Arkansas regional workforce during July was estimated at 241,041 a scant decrease from the 241,104 during June, and ahead of the 237,105 during July 2012.

June was the first month the region’s workforce has topped 240,000. 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 July fell to 226,896 from 227,297 in June. The July employment was 2.06% higher than the 222,298 in July 2012.

Following are other key figures from the BLS metro report.
• Unemployed persons in the region totaled 14,145 during July, above the 13,807 during June and below the 14,807 during July 2012.

• The Northwest Arkansas manufacturing sector employed an estimated 26,700 in July, down compared to 26,900 in June, and below the 26,900 during July 2012. Sector employment is down more than 20% from more than a decade ago when July 2002 manufacturing employment in the metro area stood at 34,000.

• Jobs in the Trade, Transportation and Utilities sector — the region’s largest job sector —  totaled 50,700 in July, up from 50,200 during June, and up from the 47,700 during July 2012.

• Employment in the region’s tourism industry was 22,000 during July, unchanged from 22,000 in June and up from 20,600 during July 2012. The June and July employment is a new record for the sector, although the figure could be revised in subsequent reports.

• In Education & Health Services, employment was 24,900 during July, down from 28,900 during June and up from 26,200 during July 2012.

• In the Government sector, employment was 26,600 during July, down from 30,700 in June and up compared to 28,500 during July 2012.

NATIONAL NUMBERS
Unemployment rates were lower in July than a year earlier in 320 of the 372 metropolitan areas, higher in 38 areas, and unchanged in 14 areas, noted the broad BLS report.

The U.S. unemployment rate in July was 7.4%, down from 8.2% from a year earlier. Arkansas’ jobless rate was 7.4% in July, up from 7.3% in June and unchanged compared to in July 2012.

Oklahoma’s jobless rate during July was 5.3%, up from 5.2% in June, and unchanged compared to July 2012. The Missouri jobless rate during July was 7.1%, compared to 6.9% in June and unchanged compared to July 2012.

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
July 2013: 5.9%
June 2013: 5.7%
July 2012: 6.2%

Fort Smith
July 2013: 7.6%
June 2013: 7.7%
July 2012: 8.4%

Hot Springs
July 2013: 7.8%
June 2013: 7.7%
July 2012: 8%

Jonesboro
July 2013: 7.3%
June 2013: 7.1%
July 2012: 7.6%

Little Rock-North Little Rock-Conway
July 2013: 6.8%
June 2013: 6.7%
July 2012: 7%

Memphis-West Memphis
July 2013: 9.5%
June 2013: 10%
July 2012: 9.5%

Pine Bluff
July 2013: 10.3%
June 2013: 10.1%
July 2012: 10%

Texarkana
July 2013: 7.1%
June 2013: 7.4%
July 2012: 7.3%

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%