Arkansas’ year-over-year job numbers up 2.5% in November

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by Talk Business & Politics staff ([email protected]) ago 26 views 

Arkansas added more than 33,000 net jobs in November compared with November 2023, and the number of unemployed fell almost 9% in the year. As a result, the state’s jobless rate was 3.3% in November, below the 3.7% in November 2023.

The number of employed in Arkansas during November was an estimated 1,367,038, up 33,715 jobs, or 2.5%, compared with November 2023, according to the U.S. Bureau of Labor Statistics (BLS) report posted Friday (Dec. 20). The November numbers are preliminary and subject to revision.

Arkansas’ labor force, the number of people eligible to work, in November was 1,413,716, up 2.1% from the 1,384,466 in November 2023. The state’s labor force participation rate in November was 58.2%, up from 57.6% in November 2023. November was the first time the participation rate was at or above 58.2% since November 2017.

Arkansans without jobs in November totaled 46,628, down 8.7% compared with the 51,093 in November 2023.

The biggest year-over-year sector gains were in Education and Health Services (13,500 more jobs, up 6.45%), Professional and Business services (3,600 more jobs, up 2.3%), and Manufacturing (3,100 more jobs, up 1.9%).

NATIONAL NUMBERS
Unemployment rates were higher in November in 6 states, lower in 1 state, and stable in 43 states, according to the BLS report. Twenty-five states and the District had jobless rate increases from a year earlier, 6 states had decreases, and 19 states had little change.

South Dakota had the lowest jobless rate in November at 1.9%. Nevada had the highest rate at 5.7%. 26 states had unemployment rates lower than the U.S. figure of 4.2%, 3 states had higher rates, and 21 states had rates that were not appreciably different from that of the nation.

Over the year, nonfarm payroll employment increased in 33 states and was essentially unchanged in 17 states. The largest job gains occurred in Texas (+274,300), California (+208,500), and Florida (+163,900). The largest percentage increases occurred in Idaho (+3.1%), Alaska (+2.8%), and Missouri (+2.7%).

JOB SECTOR NUMBERS
Trade, Transportation, and Utilities
November 2024: 269,000
November 2023: 267,900
September marked a new employment record for the sector with 270,800 jobs.

Government
November 2024: 213,300
November 2023: 211,900
Sector employment hit a peak of 224,100 in May 2010.

Education and Health Services
November 2024: 222,800
November 2023: 209,300
November marked an employment record for the sector.

Manufacturing
November 2024: 163,500
November 2023: 160,400
Manufacturing, once the state’s largest jobs sector, posted record employment of 247,600 in February 1995.

Professional and Business Services
November 2024: 158,900
November 2023: 155,300
June marked an employment record for the sector with 160,900 jobs.

Leisure and Hospitality
November 2024: 127,400
November 2023: 127,300
March marked an employment record for the sector with 130,200 jobs.

Financial Activities
November 2024: 71,100
November 2023: 70,300
July first marked an employment record for the sector at 71,900.

Construction
November 2024: 66,700
November 2023: 65,100
February first marked an employment record for the sector with 68,000 jobs.