Arkansas Unemployment Rate Dips To 6.2% In September

by Roby Brock ([email protected]) 90 views 

The Arkansas jobless rate fell one-tenth of a percent in September to 6.2%, but that number is a full 1.5 points below the rate one year ago.

Labor force data, produced by the Bureau of Labor Statistics and released by the Arkansas Department of Workforce Services, showed a one month gain of employment of 3,600 workers – a seasonal trend impacted in part by the return to public schools. However, there were other positive industry gains in construction, health and hospitality.

Compared to one year ago, the number of working Arkansans is still down 4,700 and the number of unemployed has fallen from an estimated 101,500 to 81,000 year-over-year. Economists suggest that combination of Baby Boomer retirees, workers moving out of state, and those giving up looking for work make up the bulk of this labor force exit.

DWS officials noted that September showed the first employment gain since March.

“This increase, combined with the drop in unemployment, caused the unemployment rate to decrease to 6.2 percent this month,” said DWS Communications Director Becky Heflin.

Arkansas’ jobless rate stood at 6.2% in September compared to 6.3% in August and 7.7% in September 2013. The U.S. unemployment rate fell two-tenths of a point to 5.9%.

According to the separate Monthly Survey of Employers, eight major industry sectors reported gains, while two sectors declined slightly and one was unchanged.

Nonfarm Payroll Jobs
September 2014 vs. September 2013

Mining/Logging +300
Construction +4,700
Manufacturing +2,600
Trade/Transportation +800
Information -600
Financial 0
Professional/Business +1,600
Education/Health +2,900
Leisure/Hospitality +3,300
Other +100
Government -400

You can access the full DWS report here.