Fort Smith area jobless rate falls to 9.1%

A jump in the overall workforce number and the number of employed in the Fort Smith metro area during February was not enough to reduce the number of unemployed or drop the unemployment rate below 9%.

According to U.S. Bureau of Labor Statistics released Wednesday (April 6), the preliminary February unemployment rate in the Fort Smith area fell to 9.1% after reaching 9.2% in January. February 1992 was the last time the metro area unemployment rate was at or above 9.2% (the rate was 9.8%).

The Fort Smith and the Pine Bluff metro areas were the only two among Arkansas’ eight areas to post jobless rates higher than February 2010. The lowest February metro rate in the state was Northwest Arkansas at 6.7%. The highest metro rate was 10.4%, shared by Pine Bluff and the Memphis-West Memphis area.

Memphis-West Memphis was the only Arkansas metro area to not see a jobless rate decrease from January to February.

FORT SMITH METRO PICTURE
The number of unemployed in the Fort Smith metro area rose to an estimated 12,214 in February, up slightly compared to a revised 12,209 in January and up 2.6% compared to February 2010. The last time there were more unemployed in the Fort Smith area was February 1991 (12,710).

The number of employed in the metro area during February was 122,640, up 1.45% compared to the 120,880 employed in the area during January, and down 0.35% compared to February 2010.

Total metro nonfarm payroll in February was estimated at 116,000, up from 115,400 in January, and up from the 115,700 in February 2010.

Fort Smith’s manufacturing sector employed an estimated 21,000 in February, unchanged from the revised 21,000 during January, but down from the 21,100 employed in the sector in February 2010. Employment in the sector is down 31.5% 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 24,100 in February, up from 24,000 in January and up from the 24,000 the sector employed in February 2010.

The region’s tourism industry continues to struggle, based on employment figures. The sector employed an estimated 8,500 in February, unchanged from January and up from the 8,400 employed in February 2010. Sector employment is down 13.6% from a high of 9,800 in August 2008.

NATIONAL, STATE NUMBERS

Unemployment rates were lower in February than a year earlier in 308 of the 372 metropolitan areas, higher in 52 areas, and unchanged in 12 areas, noted the BLS report. Also, 15 areas recorded jobless rates of at least 15%, while 7 areas registered rates of less than 5%.

By way of comparison, unemployment rates were lower in January than a year earlier in 282 of the 372 metropolitan areas, higher in 73 areas, and unchanged in 17 areas, noted the BLS report. In January 16 areas recorded jobless rates of at least 15%, while 5 areas registered rates of less than 5%.

The U.S. unemployment rate in February was 8.9%, down from 9.7% in February 2010 and down from 9% in January. Arkansas’ February unemployment rate was 7.8%, unchanged from 7.8% in January and down from 8% in February 2010. The Oklahoma rate during February was 6.5%, down from 6.6% in January and down from 7.3% in February 2010.

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
Feb. 2011: 6.7%
Jan. 2011: 6.8%
Feb. 2010: 7%

Fort Smith
Feb. 2011: 9.1%
Jan. 2011: 9.2%
Feb. 2010: 8.8%

Hot Springs
Feb. 2011: 8.8%
Jan. 2011: 8.9%
Feb. 2010: 8.9%

Jonesboro
Feb. 2011: 7.9%
Jan. 2011: 8.3%
Feb. 2010: 8.2%

Little Rock-North Little Rock-Conway
Feb. 2011: 7.1%
Jan. 2011: 7.5%
Feb. 2010: 7.6%

Memphis-West Memphis
Feb. 2011: 10.4%
Jan. 2011: 10.3%
Feb. 2010: 10.9%

Pine Bluff
Feb. 2011: 10.4%
Jan. 2011: 10.9%
Feb. 2010: 10.3%

Texarkana
Feb. 2011: 7.5%
Jan. 2011: 7.8%
Feb. 2010: 7.9%

FORT SMITH METRO AREA HISTORY
Past annual average unemployment rates
2010: 8.1%
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%