Arkansas jobless rate up to 7.8%

BusinessFort SmithNews on the Wire

by The City Wire staff ([email protected]) June 17, 2011 12:18 pm 46 views 

Arkansas’ jobless rate inched up to 7.8% in May from 7.7% in April, with the number of unemployed increasing 1,200 — from 105,700 in April to 106,900 in May.

May marks the 27th consecutive month the Arkansas jobless rate has been above 7%, and the number of unemployed is also up 1,272 compared to May 2010, according to a federal Bureau of Labor Statistics report released Friday (June 17).

The number of employed in Arkansas during May fell 4,804 jobs to an estimated 1.257 million, down 0.38% compared to April 2011. However, the number of jobs in May were up 12,320, or 0.98%, compared to May 2010.

Arkansas sectors that saw gains in May compared to April include manufacturing (up 0.25%), information (0.62%) and government (up 0.87%).

The Oklahoma jobless rate was 5.3% in May, down from 5.6% in April, and down from the 7.1% in May 2010. The U.S. rate during May was 9.1%, up from 9% in April and down from 9.6% in May 2010.

Arkansas’ total nonfarm employment rolls dropped 5,400 jobs between May and April, settling at 1.173 million. The May figure is 5,400 jobs above the 1.168 million in May 2010, and 8,400 jobs above May 2009. The state’s nonfarm employment is down 36,500 jobs since the peak of 1.210 million in February 2008.

SECTOR NOTES
• Employment in Arkansas’ manufacturing sector increased to an estimated 159,100 jobs in May from 158,700 in April. The job level is below the 160,600 in May 2010. The manufacturing sector in Arkansas has lost 69,600 jobs in the past 10 years (May 2001-May 2011), or 30.43% of sector employment.

• Construction and construction-related jobs fell 46,500 in May compared to 46,800 in April. The May estimate is below the 49,300 in May 2010. The job count is 11,000 below the peak of 57,500 first reached in February 2006.

• Jobs in the Trade, Transportation and Utilities sector — the state’s largest sector — was estimated at 236,900 in May, up from the revised 240,000 in April and up over the 233,900 in May 2010.

• The Professional & Business services sector employed an estimated 121,100 in May, down from the 123,500 in April and up over the 117,600 in May 2010.

• The state’s tourism sector — Leisure & Hospitality jobs — fell to 103,200 jobs in May compared to a revised 103,400 in April. The sector employed 98,000 in May 2010.

NATIONAL STATS
According to the BLS report, 4 states recorded unemployment rate increases, 43 states registered rate decreases, and 3 states had no rate change compared to May 2010.

Nevada continued to register the highest unemployment rate among the states, with 12.1% in May, down from 12.4% in April. The states with the next highest rates were California (11.7%) and Rhode Island (10.9%).

North Dakota reported the lowest jobless rate, 3.2%, followed by Nebraska at 4.1%. New Hampshire and South Dakota shared the third lowest rate of 4.8%.