Fort Smith metro jobless rate down in March

The unemployment rate for the Fort Smith metro finally moved in the right direction, with the March jobless rate estimated at 8.4%, down from 9.1% in February and below the 8.6% in March 2010.

According to U.S. Bureau of Labor Statistics released Wednesday (April 27), increased employment combined with a decrease in the labor force pushed the metro area back below the 9%-plus rates of January and February. February 1992 was the last time the metro area unemployment rate was at or above 9.2% (the rate was 9.8%).

Seven of Arkansas’ eight metro areas saw March jobless rate declines compared to February 2011 and March 2010. Pine Bluff saw a decline in the rate compared to February but was up compared to March 2010.

The lowest March metro rate in the state was Northwest Arkansas at 6.2%. The highest metro rate was 10.1% in Pine Bluff.

FORT SMITH METRO PICTURE
The number of unemployed in the Fort Smith metro area was an estimated 11,267 in March, down compared to a revised 12,234 in January and down 2.69% compared to March 2010.

The number of employed in the metro area during March was 123,585, up 0.6% compared to the 122,835 employed in the area during February, and up 0.68% compared to March 2010.

Total metro nonfarm payroll in March was estimated at 116,700, up from 116,000 in February, but down from the 117,100 in March 2010.

Fort Smith’s manufacturing sector employed an estimated 20,700 in March, down from 21,000 in February, and down from the 21,300 employed in the sector in March 2010. Employment in the sector is down 32.5% 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 24,200 in March, up from 24,100 in February and down from the 24,300 the sector employed in March 2010.

The region’s tourism industry showed some life during March. The sector employed an estimated 8,900 in March, up from 8,500 in February and up from the 8,600 employed in March 2010. Sector employment is down 13.6% from a high of 9,800 in August 2008.

NATIONAL, STATE NUMBERS
Unemployment rates were lower in March than a year earlier in 317 of the 372 metropolitan areas, higher in 44 areas, and unchanged in 11 areas, noted the BLS report. Also, 14 areas recorded jobless rates of at least 15%, while 8 areas registered rates of less than 5%.

The U.S. unemployment rate in March was 8.8%, down from 9.7% in March 2010 and down from 8.9% in February. Arkansas’ March unemployment rate was 7.8%, unchanged from 7.8% in February and down from 7.9% in March 2010. The Oklahoma rate during March was 6.1%, down from 6.5% in February and down from 7.3% in March 2010.

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
March 2011: 6.2%
Feb. 2011: 6.7%
March 2010: 6.8%

Fort Smith
March 2011: 8.4%
Feb. 2011: 9.1%
March 2010: 8.6%

Hot Springs
March 2011: 8.3%
Feb. 2011: 8.8%
March 2010: 8.4%

Jonesboro
March 2011: 7.6%
Feb. 2011: 7.9%
March 2010: 7.8%

Little Rock-North Little Rock-Conway
March 2011: 6.8%
Feb. 2011: 7.1%
March 2010: 7.3%

Memphis-West Memphis
March 2011: 9.9%
Feb. 2011: 10.4%
March 2010: 10.4%

Pine Bluff
March 2011: 10.1%
Feb. 2011: 10.4%
March 2010: 10%

Texarkana
March 2011: 7.4%
Feb. 2011: 7.5%
March 2010: 7.6%

FORT SMITH METRO AREA HISTORY
Past annual average unemployment rates
2010: 8.2%
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%