Arkansas’ average annual jobless rate rises in 2024

Arkansas’ annual average unemployment rate in 2024 was 3.5%, above the 3.1% in 2023. But the state had a higher number of employed in the year, according to a U.S. Bureau of Labor Statistics (BLS) report posted Wednesday (March 5).

The BLS data shows that average employment in Arkansas during 2024 was 1.36 million, 18,000 jobs above the 1.34 million average in 2023. The average number of unemployed in Arkansas was 49,000 in 2024, above 44,000 in 2023.

Arkansas’ average annual labor force — the number of eligible workers — in 2024 was 1.4 million, above 1.38 million in 2023, according to the BLS report. The employment-population ratio averaged 56.2% in Arkansas during 2024, slightly better than 56% in 2023.

The state ended the year with a December jobless rate of 3.4%, below 3.7% in December 2023. The state’s jobless rate ticked higher from 3.3% in November. The number of employed in Arkansas during December was an estimated 1,368,644, up 34,626 jobs, or 2.6%, compared with December 2023. Arkansans without jobs in December totaled 47,708, down 6% compared with 50,736 in December 2023.

Nationwide, annual average unemployment rates increased in 21 states and were little changed in 29 states in 2024. The BLS report noted 21 states had unemployment rate increases in 2024, the largest of which were in Rhode Island (up 1.3%), South Carolina (up 1.1%), and Colorado (up 1%).

South Dakota had the lowest jobless rate among the states in 2024 at 1.8%, and Nevada had the highest at 5.6%. Overall, 24 states had unemployment rates lower than the U.S. figure of 4%, five states had higher rates, and 21 states had rates that were not appreciably different from that of the nation.

Revised 2024 jobs and payroll data is set to be published by the BLS on March 17.