Fort Smith area jobless rate rises to 8.7%

An increase of almost 1,300 in the number of unemployed in the Fort Smith metro countered sizeable increases in the workforce and number of employed to push the region’s jobless rate up to 8.7% in January.

January’s 8.7% estimate was well above the 8.1% in December, but just below the 8.9%  in January 2012.

Six of the eight metro areas in or connected to Arkansas had jobless rate increases in January compared to December, and had jobless rate declines compared to January 2012. The Memphis-West Memphis area and the Pine Bluff area had jobless rate increases in January compared to December and January 2012.

During January, the lowest metro jobless rate in the state was in Northwest Arkansas with 5.9% and the highest rate was 10.5% in the Pine Bluff area.

According to figures released by the U.S. Bureau of Labor Statistics, the size of the Fort Smith regional workforce during January was 131,538, up from the 125,975 during December, and above the 127,459 during January 2012.

January was the 48th consecutive month the Fort Smith metro jobless rate has been at or above 7%, and was the second consecutive month the rate has been above 8%.

The regional labor force consistently remained above 130,000 beginning in December 2004, but fell below 130,000 in January. The labor force reached a high of 139,544 in June 2008.

The number of employed during January rose to 120,058 from a revised 115,793 in December. The January employment was also above the 116,098 in January 2012.

FORT SMITH METRO NUMBERS
• Unemployed persons in the region totaled an estimated 11,480 during January, above the 10,182 during December and above the 11,361 during January 2012.

• The Fort Smith area manufacturing sector employed an estimated 18,600 in January, just below the 18,900 in December, and below the 19,600 during January 2012. Employment in the sector is down more than 35% from more than a decade ago when January 2001 manufacturing employment in the metro area stood at 30,700. Also, the annual average monthly employment in manufacturing has fallen from 28,900 in 2005 to 19,200 in 2012 – the first year the average has dropped below 20,000 since surpassing that level.

• Jobs in the Trade, Transportation and Utilities sector — the region’s largest job sector —  totaled 24,800 in January, down from 25,100 in December, and above the 24,100 during January 2012. Employment in the sector is off from the high of 25,700 posted in December 2007.

• Employment in the region’s tourism industry was 8,600 during January, down from 8,700 in December and unchanged compared to January 2012. The sector reached an employment high of 9,800 in August 2008.

• In Education & Health Services, employment was 17,400 during January, up from 17,300 in December and above the 16,800 during January 2012.

• In the Government sector, employment was 19,200 during January, down from 19,600 in December and above the 19,000 January 2012.

NATIONAL NUMBERS
Unemployment rates were lower in January than a year earlier in 227 of the 372 metropolitan areas, higher in 124 areas, and unchanged in 21 areas, noted the broad BLS report.

The U.S. unemployment rate in January was 7.9%, down from 8.3% from a year earlier. Arkansas’ jobless rate was 7.2% in January, up from 7.1% in December and below the 7.4% rate in January 2012.

Oklahoma’s jobless rate during January was 5.1%, unchanged from December, and below the 5.4% during January 2012. The Missouri jobless rate during January was 6.5%, compared to 6.6% in December and 7.3% during January 2012.

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
Jan. 2013: 5.9%
Dec. 2012: 5.1%
Jan. 2012: 6.3%

Fort Smith
Jan. 2013: 8.7%
Dec. 2012: 8.1%
Jan. 2012: 8.9%

Hot Springs
Jan. 2013: 8.4%
Dec. 2012: 7.5%
Jan. 2012: 8.5%

Jonesboro
Jan. 2013: 7.8%
Dec. 2012: 6.8%
Jan. 2012: 8.1%

Little Rock-North Little Rock-Conway
Jan. 2013: 7.1%
Dec. 2012: 6.3%
Jan. 2012: 7.2%

Memphis-West Memphis
Jan. 2013: 9.7%
Dec. 2012: 8.6%
Jan. 2012: 9.4%

Pine Bluff
Jan. 2013: 10.5%
Dec. 2012: 9%
Jan. 2012: 10.4%

Texarkana
Jan. 2013: 7.2%
Dec. 2012: 5.7%
Jan. 2012: 7.5%

FORT SMITH METRO AREA HISTORY
Past annual average unemployment rates
2011: 8.6%
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%