Metro Jobless Rates Decline, Employment Fluctuates

Unemployment rates in Arkansas’ major metropolitan areas continue to decline.

All of the eight metro areas in or connected to Arkansas had jobless rate decreases in September compared to August, and all had jobless rate declines compared to September 2013.

During September, the lowest metro jobless rate in the state was 4.4% in Northwest Arkansas and the highest rate was 7.9% in the Memphis-West Memphis area.

CENTRAL ARKANSAS
The size of the central Arkansas regional workforce during September was estimated at 333,755, below the 335,905 in August, and below the 341,222 in September 2013.

Central Arkansas metro employment of 315,984 was below the 316,641 in August, and well below the 318,642 during September 2013. The average annual monthly employment was 317,790 in 2013, 320,366 during 2012, 317,981 during 2011 and 317,383 during 2010.

September marked the eighth consecutive month the metro jobless rate has been at or below 7%.

JONESBORO
The size of the Jonesboro regional workforce during September was estimated at 59,339, slightly above the 59,089 in August, but below the 59,774 in September 2013. The September numbers are subject to revision.

Jonesboro metro employment of 56,220 was above the 55,706 in August, and better than the 55,788 during September 2013. The average annual monthly employment was 55,105 in 2013, 54,873 during 2012, 54,537 during 2011 and 53,345 during 2010.

September marked the seventh consecutive month the Jonesboro metro jobless rate has been at or below 7%.

NORTHWEST ARKANSAS
Big gains in September job numbers and declines in the number of unemployed pushed the Northwest Arkansas jobless rate down to 4.4% compared to 5.5% in September 2013.

Metro employment of 223,690 was above the 220,794 in August, and just slightly ahead of the 223,626 in September 2013, according to figures released by the U.S. Bureau of Labor Statistics. The September numbers are subject to revision.

September marked the 14th consecutive month the NWA metro jobless rate has been below 6%. The metro area is the only one in Arkansas to post a rate below 5%.

The size of the Northwest Arkansas regional workforce during September was estimated at 234,000, up from the 232,070 in August, but 1.06% below the 236,521 during September 2013. The average annual monthly labor size was 234,412 in 2013, 232,208 during 2012, 228,918 during 2011 and 225,974 during 2010.

Unemployed persons in the region totaled 10,310 during September, down from the 11,276 during August and below the 12,895 during September 2013.

FORT SMITH
The September labor market report for the Fort Smith area shows two consecutive months of workforce gains and rise in the number of employed. Such gains will need to continue to erase an almost 9% loss in regional jobs from an employment peak in October 2008.

Fort Smith’s metro jobless rate was 5.7% in September compared to 6.1% in August. The rate was lower than the 7.5% in September 2013, according to figures from the U.S. Bureau of Labor Statistics. September’s data is subject to revision in future reports from the U.S. Bureau of Labor Statistics.

The size of the Fort Smith regional workforce during September was 126,104, up from 125,739 during August, but below the 130,684 during September 2013. The labor force reached a revised high of 140,253 in June 2007, meaning the September workforce size is down 10% from the peak number.

The number of employed in the Fort Smith region totaled 118,911 in September, up from 118,030 in August, and an estimated 1,987 jobs below the 120,893 employed in September 2013.

Unemployed persons in the region totaled an estimated 7,193 during September, below the 7,709 during August, but well below the 9,791 during September 2013.

NATIONAL NUMBERS
Unemployment rates were lower in September than a year earlier in 339 of the 372 metropolitan areas, higher in 26 areas, and unchanged in seven areas, noted the broad BLS report.

The U.S. unemployment rate in September was 5.9%, down from 7.2% from a year earlier. Arkansas’ jobless rate was 6.2% in September, down from 6.3% in August and down from 7.7% in September 2013.

Oklahoma’s jobless rate during September was 4.7%, unchanged compared to August, and down compared to 5.6% in September 2013. The Missouri jobless rate during September was 6.3%, unchanged compared to August and below the 6.4% in September 2013.

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
September 2014: 4.4%
August 2014: 4.9%
September 2013: 5.5%

Fort Smith
September 2014: 5.7%
August 2014: 6.1%
September 2013: 7.5%

Hot Springs
September 2014: 6.1%
August 2014: 6.4%
September 2013: 7.7%

Jonesboro
September 2014: 5.3%
August 2014: 5.7%
September 2013: 6.7%

Little Rock-North Little Rock-Conway
September 2014: 5.3%
August 2014: 5.6%
September 2013: 6.6%

Memphis-West Memphis
September 2014: 7.9%
August 2014: 8.5%
September 2013: 9.2%

Pine Bluff
September 2014: 7.6%
August 2014: 8.4%
September 2013: 9.6%

Texarkana
September 2014: 5.8%
August 2014: 6.4%
September 2013: 7.4%