U.S. Jobless Rate Drops Below State For First Time Since Pre-recession

Arkansas’ August unemployment rate remain unchanged at 7.4% as the state’s job picture remained in a rut. However, the national jobless rate dipped below the state percentage for the first time since before the 2008 recession.

According to U.S. Department of Labor numbers, the number of unemployed dipped by 800 from a year ago, but the number of employed workers also declined by 26,600. The U.S. unemployment rate actually fell one-tenth of a percent to 7.3%. August marks the first time since April 2008 that national unemployment was lower than the state jobless rate.

One year ago, state unemployment stood at 7.3%.

“Arkansas’ unemployment rate was unchanged between July and August. The number of employed declined, though the drop was not enough to change the jobless rate. This is the fifth time in 2013 that the jobless rate has remained stable between months,” said DWS Program Operations Manager Bernadette Coleman.

Among sector gainers and decliners during the past 12 months, five major industry sectors posted growth, offsetting decreases in six sectors.

The trade, transportation, and utilities sector paved the way adding 8,400 jobs. Education and health services have reported a gain of 4,600 jobs in the past year.

Manufacturing employment slid by 1,100 workers during the past 12 months, while the leisure and hospitality sector lost an estimated 1,900 jobs in the past year.

You can access the full report here.

Michael Tilley with our content partner, The City Wire, has more analysis including notes from economist Greg Kaza of the Arkansas Policy Foundation at this link.