September job gains push Northwest Arkansas jobless rate down to 4.4%

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.

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.

NWA METRO NUMBERS
Following are other key figures from the BLS metro report.

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.

Jobs in the Trade, Transportation and Utilities sector — the region’s largest job sector —  totaled 47,100 in September, up from the 46,700 during August, and down from the 47,900 in September 2013. The sector reached record employment of 50,500 in December 2006.

The Northwest Arkansas manufacturing sector employed an estimated 26,100 in September, down from 26,200 in August, and down from the 26,500 during September 2013. Sector employment is down 21.6% from more than a decade ago when September 2004 manufacturing employment in the metro area stood at 33,300.

Employment in the region’s tourism industry was 22,800 during September, which set a new record for the sector. The September data is subject to revision. The level was up from 22,700 in August – which was the previous high for the sector – and up from 21,900 during September 2013.

In Education & Health Services, employment was 25,200 during September, up from 24,700 in August and up from 24,600 during September 2013. The September employment, if it stands, sets a new record for the sector.

In the Government sector, employment was 32,700 during September, up from 29,500 in August and up compared to 31,900 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%

NORTHWEST ARKANSAS METRO AREA HISTORY
Past annual average unemployment rates
2013: 5.7%
2012: 5.6%
2011: 6.2%
2010: 6.4%
2009: 6.2%
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%