Arkansas’ Jobless Rate Drops To 5.4%

Arkansas’ jobless rate in August dropped two-tenths of a percentage point in tandem with the national unemployment rate as the state’s labor pool rose by 1,400 to a robust 1,338,300 workers, according to the monthly report produced on Friday by the Bureau of Labor Statistics (BLS).

The new job numbers, released by the Arkansas Department of Workforce Services, show Arkansas’ seasonally adjusted unemployment rate fell from 5.6% in July to 5.4% in August. The United States jobless rate, reported last week, declined two-tenths of a percentage point down to 5.1% in the same period.

“Arkansas’ unemployment rate dropped two-tenths of a percentage point in August, mirroring the trend seen at the national level. August marks the 21st month in a row that the state has added employment,” said Susan Price, BLS Programs Operation Manager for DWS.

Statewide, nonfarm payroll jobs in Arkansas increased 5,900 in August to total 1,206,700. Employment rose in six major industry sectors, while five sectors declined. Government employment saw the biggest gain, adding 2,800 jobs. Jobs in educational and health services increased 2,600, while employment in professional and business services rose 1,000, with gains seen across all sub-sectors.

The blue collar-focused manufacturing sector continued its downward trend, falling by 1,000 with all of the job cuts in both nondurable goods and durable goods industries.

Compared to August 2014, Arkansas’ nonfarm payroll employment is up 25,300. Year-over-year seven major industry sectors posted job growth, while employment in four sectors decreased slightly. Jobs in professional and business services rose 8,200, while educational and health services increased by 6,700.

Construction also added 6,500 jobs, mostly in specialty trade contractors, and jobs in leisure and hospitality rose 3,700. As with the monthly jobless numbers, the largest decline year-over-year occurred in manufacturing with a loss of 1,900 workers on employee payrolls.

Across the U.S., regional and state unemployment rates were little changed in August. Twenty-nine states had unemployment rate decreases from July, 10 states had increases, and 11 states and the District of Columbia had no change, the BLS reported on Friday.

According to the BLS, Arkansas statistically had the most significant seasonally adjusted unemployment rate change among all 50 states from July 2015 to August 2015 with the two percentage point decline.