Average weekly wages in Arkansas up 2.1%, below U.S. average

Average weekly wages in Arkansas rose 2.1% in the fourth quarter of 2023, below U.S. growth of 3.6% and below the percentage growth of all six contiguous states, according to a U.S. Bureau of Labor Statistics (BLS) report posted Thursday (May 23).

The BLS report covered wage growth, employment, and the estimated number of business establishments in the fourth quarter of 2023 among the nation’s largest 360 counties and all states.

Arkansas has three counties – Benton, Pulaski and Washington – among the 360 largest U.S. counties. Following are the average wages, estimated jobs, and business establishment numbers in the three counties and in Arkansas.

• Average weekly wages, fourth quarter 2023
Benton County: $1,319, up 4.4% compared with the same period in 2023
Pulaski County: $1,228, up 2.8%
Washington County: $1,124, down 2.9%
Arkansas: $1,089, up 2.1%

• Number of estimated jobs in December 2023
Pulaski County: 261,800, up 1.6% compared with the same period in 2023
Benton County: 141,000, up 1.3%
Washington County: 121,000, up 3.2%
Arkansas: 1.294 million, up 1.4%

• Estimated number of business establishments
Pulaski County: 14,200
Benton County: 8,200
Washington County: 6,900
Arkansas: 103,200

The latest Arkansas jobs report estimated more than 6,500 net new jobs year-over-year in Arkansas in April, but the number of unemployed increased by more than 20%. As a result, the state’s jobless rate in April was 3.4%, better than 3.5% in March but above 2.8% in April 2023. Arkansans without jobs in April totaled 47,490, down from 49,316 in March but up 21.6% from 39,066 in April 2023.

STATE, NATIONAL NUMBERS
Following are fourth quarter average weekly wage growth numbers in contiguous states.
Louisiana: $1,193, up 5.3% compared with the same period in 2023
Mississippi: $983, up 3.8%
Missouri: $1,222, up 4.3%
Oklahoma: $1,123, up 4.7%
Tennessee: $1,285, up 2.5%
Texas: $1,427, up 4%

From December 2022 to December 2023, employment increased in 318 of the 360 largest U.S. counties. In December 2023, national employment increased to 154.8 million, a 1.5% increase over the year, as measured by the Quarterly Census of Employment and Wages (QCEW) program.

Hays, Texas, had the largest over-the-year percentage increase in employment at 5%. Elkhart, Ind., had the largest over-the-year percentage decrease in employment at 6.9%.

Among the 360 largest counties, 348 had over-the-year increases in average weekly wages. In the fourth quarter of 2023, U.S. average weekly wages increased to $1,435, up 3.6% over the year. Snohomish, Wash., had the largest fourth quarter over-the-year wage gain at 18.6%. Merrimack, N.H., had the largest over-the-year percentage decrease in average weekly wages at 7.2%.