Arkansas unemployment rate falls to record low of 3.4% in May

by Talk Business & Politics staff ( 387 views 

Arkansas’ jobless rate dipped to another record law falling from 3.5% in April to 3.4% in May, according to new figures from the U.S. Department of Labor and the Arkansas Department of Workforce Services Bureau of Labor Statistics (BLS) division.

The state’s May 2017 seasonally adjusted unemployment rate fell to the low, which is nearly a full percentage point below the U.S. rate of 4.3%. One year ago, Arkansas’ jobless rate stood at 4.1%.

Arkansas’ civilian labor force increased by a new 7,539 workers, which included 8,604 newly employed and 1,065 who left the labor force. The total employed labor force stood at 1,309,035, up more than 19,000 jobs from a year ago.

“Arkansas’ unemployment rate continued to decline in May, setting another record low at 3.4 percent. Employment rose to 1,309,035, the highest number
of employed Arkansans since August 2008,” said BLS Program Operations Manager Susan Price, BLS Program Operations Manager.

In the separate non-farm payroll job summary report, which is also released with unemployment statistics, Arkansas saw eight major industry sectors add jobs during the last 12 months. They include:

  • Professional/Business services +9,000
  • Education/Health services +6,200
  • Manufacturing +3,400
  • Other +2,200
  • Leisure/Hospitality +2,100
  • Financial +900
  • Trade/Transportation/Utilities +700
  • Construction +400

Declining sectors over the last year include:

  • Government -1,400
  • Mining/Logging -200
  • Information -500