Fort Smith area jobless rate dips in July

Six of the eight metro areas in or connected to Arkansas saw a jobless rate decline in July compared to June, but six of the metro areas saw a jobless rate increase in July compared to July 2010.

The Fort Smith metro rate during July was 8.3%, down from 8.4% in June but up from 8.1% during July 2010.

The rates in Wednesday’s (Aug. 31) report from the U.S. Bureau of Labor Statistics are preliminary and subject to change.

During July, the lowest metro jobless rate was 6.9% in Northwest Arkansas and the highest rate was 10.9% in Pine Bluff. The number of unemployed in Northwest Arkansas metro area fell to 15,600, after jumping from 14,200 May to 15,900 in June.

Arkansas’ jobless rate in July was 8.2%, up from 8.1% in June and up from 7.8% in July 2010. The Oklahoma jobless rate was 5.5% in July, up from 5.4% in June but down from 7% in July 2010. The U.S. rate during July was 9.1%, down from 9.1% in June and down from 9.5% in July 2010.

FORT SMITH METRO PICTURE
The number of unemployed in the Fort Smith metro area was an estimated 11,158 in July, down 1.74% from a revised 11,356 in June, and up 2.64% compared to July 2010. The number of employed in the metro area during July was 122,747, down 0.34% compared to the 123,177 employed in the area during June, and down 0.31% compared to July 2010.

The size of the metro workforce in July was 133,905, down from 134,533 in June and just below the 134,004 in June 2010. The workforce is down from the June 2007 high of 140,542. Shrinkage in the workforce reflects several factors, including people leaving the area to find work elsewhere or those who have simply quit looking for work.

Fort Smith’s manufacturing sector employed an estimated 21,100 in July, up from 21,400 in June, and lower than the 21,800 in July 2010. July put an end to three consecutive monthly employment gains in the sector. Employment in the sector is down 31.27% from more than 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 July, unchanged from June and up from the 24,100 the sector employed in July 2010. Employment in the sector is off from the high of 25,700 posted in December 2007.

Employment in the region’s tourism industry continues to be stable, with July employment reaching an estimated 9,500. The sector employed 9,500 in June and May and 8,900 in July 2010. The sector reached an employment high of 9,800 in August 2008.

NATIONAL NUMBERS
Unemployment rates were lower in July than a year earlier in 257 of the 372 metropolitan areas, higher in 94 areas (Compared to higher in 127 areas in June and 85 areas in May), and unchanged in 21 areas, noted the BLS report. Also, 12 areas recorded jobless rates of at least 15%, while 10 areas registered rates of less than 5%.

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
July 2011: 6.9%
June 2011: 7%
July 2010: 6.9%

Fort Smith
July 2011: 8.3%
June 2011: 8.4%
July 2010: 8.1%

Hot Springs
July 2011: 8.1%
June 2011: 8.4%
July 2010: 8.4%

Jonesboro
July 2011: 8%
June 2011: 8.2%
July 2010: 7.9%

Little Rock-North Little Rock-Conway
July 2011: 7.5%
June 2011: 7.5%
July 2010: 7.4%

Memphis-West Memphis
July 2011: 10.4%
June 2011: 10.9%
July 2010: 10%

Pine Bluff
July 2011: 10.9%
June 2011: 11.1%
July 2010: 10.2%

Texarkana
July 2011: 8.2%
June 2011: 8.1%
July 2010: 7.9%

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%