Metro Jobless Rates Decline Across State

August jobless rates in Arkansas’ major metropolitan areas declined from the previous month and in year-over-year comparisons.

According to figures released Wednesday (Oct. 3) by the U.S. Bureau of Labor Statistics, all of the eight metro areas in or connected to Arkansas had jobless rate declines in August compared to July, and were all down compared to August 2011.

During August, the lowest metro jobless rate was in Northwest Arkansas with 5.3% and the highest rate was 8.9% in the Memphis/West Memphis metro.

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
Aug. 2012: 5.3%
July 2012: 6.1%
Aug. 2011: 6.4%

Fort Smith
Aug. 2012: 7.9%
July 2012: 8.5%
Aug. 2011: 8.8%

Hot Springs
Aug. 2012: 7.3%
July 2012: 8%
Aug. 2011: 8.3%

Jonesboro
Aug. 2012: 6.6%
July 2012: 7.6%
Aug. 2011: 8.1%

Little Rock-North Little Rock-Conway
Aug. 2012: 6.3%
July 2012: 7%
Aug. 2011: 7.5%

Memphis-West Memphis
Aug. 2012: 8.9%
July 2012: 9.6%
Aug. 2011: 10.3%

Pine Bluff
Aug. 2012: 8.8%
July 2012: 9.8%
Aug. 2011: 10.9%

Texarkana
Aug. 2012: 6.6%
July 2012: 7.1%
Aug. 2011: 8.1%

Dr. Michael Pakko, economist with UALR’s Institute for Economic Advancement, said the metro jobless number declines reflected “recurring seasonal patterns.”  In his blog, Pakko said “smoothed seasonally adjusted estimates” show declines in Fayetteville, Hot Springs, Little Rock, Memphis and Pine Bluff.  The rate would be unchanged in Jonesboro and Texarkana, while it would increase in Fort Smith.

NATIONAL NUMBERS
Unemployment rates were lower in August than a year earlier in 325 of the 372 metropolitan areas, higher in 40 areas, and unchanged in 7 areas, noted the broad BLS report. Also, five areas recorded jobless rates of at least 15%, while 29 areas registered rates of less than 5%.

The U.S. unemployment rate in August was 8.1%, down from 9.1% from a year earlier.

Arkansas’ jobless rate was 7.3% in August, unchanged from July and below the 8.2% rate in August 2011.

PAYROLL DATA
Pakko also noted that payroll data released in conjunction with the metro jobless rates showed employment variances in the different markets.

“Information from the survey of employers showed a wide range of employment changes among the state’s metro areas.  Texarkana showed a sharp monthly decline, with smaller contractions in Fort Smith, Hot Springs and Little Rock.  Employment was up in Memphis, Fayetteville, Pine Bluff, and especially Jonesboro.  Compared to a year earlier, employment was higher in six of the eight metro areas.  Relative to employment levels at the start of the recession, Arkansas now has three metro areas that have shown positive net job growth,” Pakko said.

Editor’s note: The City Wire Staff contributed to this report.