Fort Smith metro jobless rate dips to 7.8% in July

The Fort Smith and Memphis-West Memphis metro areas were the only areas among Arkansas’ eight metro areas to see a decrease in their June to July unemployment rates.

Fort Smith’s jobless rate was 7.8% in July, down from 7.9% in May and down from 8% in July 2009. The Memphis-West Memphis unemployment rate was 10.1% in July, down from 10.4% in June.

The biggest unemployment jump was in the Jonesboro area, with the rate moving from 6.8% in June to 7.4% in July.

According to the report from the U.S. Bureau of Labor Statistics released Wednesday (Sept. 1), the number of unemployed in the Fort Smith metro area was 10,450 in July, down 4.23% compared July 2009 and up 56.3% over the 6,979 unemployed in June 2008. June 2009 marked the beginning of a high number of unemployed in the Fort Smith metro area that peaked with 11,937 in January.

Total nonfarm payroll in July was 114,500, down from the 115,700 in June, and down 0.4% compared to July 2009.

Civilian labor force levels in the metro area decreased 0.8% to 133,200 in July compared to June. The July labor force is 2.3% lower than the 136,400 in July 2009, which could indicate that people are moving out of the area to find work elsewhere or are no longer looking for work.

Fort Smith’s manufacturing sector employed an estimated 21,600 in July, up slightly compared to the 21,500 jobs in June. The sector employed 21,900 in July 2009. The manufacturing sector has trended upward since January when the job count was 21,300. Employment in the sector is down 29.6% from a decade ago when January 2001 manufacturing employment in the metro area stood at 30,700.

Jobs in the Trade, Transportation and Utilities sector — the region’s largest job sector —  totaled 23,400 in July compared to a revised 23,400 in June. The sector employed 23,800 in July 2009.

Arkansas’ July unemployment rate was 7.4%, and the Oklahoma rate was 6.9%. The U.S. unemployment rate in July was 9.5%.

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
July 2010: 6.4%
July 2009: 6.4%
June 2010: 6.2%

Fort Smith
July 2010: 7.8%
July 2009: 8%
June 2010: 7.9%

Hot Springs
July 2010: 7.7%
July 2009: 7.3%
June 2010: 7.4%

Jonesboro
July 2010: 7.4%
July 2009: 7.3%
June 2010: 6.8%

Little Rock-North Little Rock-Conway
July 2010: 7.1%
July 2009: 6.7%
June 2010: 6.8%

Memphis-West Memphis
July 2010: 10.1%
July 2009: 10.5%
June 2010: 10.4%

Pine Bluff
July 2010: 9.7%
July 2009: 9.6%
June 2010: 9.2%

Texarkana
July 2010: 7.8%
July 2009: 6.6%
June 2010: 7.7%

FORT SMITH METRO AREA HISTORY
Past annual average unemployment rates
2009: 7.9%
2008: 4.8%
2007: 5.3%
2006: 4.9%
2005: 4.5%
2004: 5.2%
2003: 5.5%
2002: 5%
2001: 4.2%
2000: 3.7%