Sales tax collections stumble in March for Jonesboro, Craighead County

Sales tax and use collections in Craighead County and Jonesboro were down in March as compared to 2017. But, collections in the county and city were still the second highest ever recorded during the month. Jonesboro city sales and use taxes generated $1.308 million, a 1.79% ($23,858) drop from March 2017. For the year, the city has collected $4.667 million, a 1.38% increase as compared to the first three months of 2017.

The city’s projected budget and actual sales tax collections are almost even through March. Officials budgeted $4.655 million for the time frame, and the $4.667 million in collected receipts is .27% above budget.

Craighead County experienced a similar slowdown. The county collected $1.457 million in county sales tax and use receipts, a 2.43% drop from March 2017. Through the first three months, Craighead County has collected $5.164 million, less than $3,000 than was collected during the first three months in 2017.

The bulk of county sales tax receipts in 2018 have been collected in Jonesboro. The city collected $3.601 million in county sales tax. It was followed by Bono ($114,116), Lake City ($111,492), Brookland ($105,441), Bay ($96,445), and Monette ($80,379).

Craighead County and Jonesboro set new records in sales tax collections in 2017. Craighead County collected $19.989 million in sales and use taxes, a 3.1% ($616,288) increase from 2016, according to the Craighead County Treasurer’s Department. Jonesboro collected $17.830 million in sales and use taxes, a 2.91% increase ($504,075) from the previous year. The county and city also set collections records in 2016. During the last five years, Jonesboro’s collections have risen by 16% and have steadily grown each year. Craighead County had an almost identical growth pattern.

In 2016, the city collected a record $17.326 million in sales tax receipts, a 4.43% increase from 2015. Since 2012, the city’s sales tax revenue has grown by 15.3%.

Craighead County collected $19.372 million in county sales taxes last year, a 5.2% increase from 2015. The total is also a high mark in the county. Since 2010, the county’s sales tax receipts have grown from $15.599 million, a 24% spike.

Unemployment rates in the city jumped in January, according to the U.S. Department of Labor. The city’s jobless rate is 3.6%, an eight-tenths of a point increase from December. It’s a three-tenths of a point spike when compared to January 2017.

The unemployment rates may have increased, but the civilian labor force has expanded in the city during the last year. Jonesboro has 37,193 civilian workers, a 3.3% uptick. The number of employed workers grew by an identical rate to 35,852 since January 2017.

Craighead County’s unemployment rate spiked seven-tenths of a point in January, landing at 3.6%. It’s a two-tenths of a point increase from January 2017. The civilian labor force in the county grew by 3.3% during the last year to 52,952 laborers. The number of employed workers in the county grew 3% since January 2017 to 51,044. The number of unemployed workers grew by 9.7% during the last year ending at 1,908 workers.

Figures released have not been seasonally adjusted.