Arkansas’ unemployment rate grows to 6.2%
by January 27, 2009 1:26 pm 78 views
Arkansas lost 18,800 jobs between December 2007 and December 2008, according to figures released Tuesday (Jan. 27) morning by the Arkansas Department of Workforce Services.
Of that annual dip, 10,000 of the jobs were lost from the manufacturing sector.
The state’s seasonally adjusted unemployment rate rose five-tenths of a percentage point from 5.7% in November to 6.2% in December. At 7.2%, the United States’ jobless rate increased four-tenths of a percentage point.
Arkansas’ civilian labor force decreased 8,400 in December, with 5,900 more unemployed and 14,300 fewer employed Arkansans.
WORKFORCE FIGURES (December 2007 – December 2008)
Manufacturing experienced the largest drop (-10,000). Durable goods declined 6,800, and nondurable goods fell 3,200, as layoffs occurred around the state.
Trade, transportation and utilities lost 7,100 jobs. Transportation, warehousing and utilities posted a majority of the decline (-4,800), with retail trade dropping 2,800.
Leisure and hospitality decreased 2,000. All losses occurred in food services.
Educational and health services added 4,000 jobs. Health care and social assistance accounted for 78 percent of the gain.
WORKFORCE FIGURES (November 2008 – December 2008)
Arkansas’ nonfarm payroll jobs fell 8,800 in December to total 1,193,300.
The largest drop occurred in leisure and hospitality (-3,400), with the accommodation and food services subsector accounting for most of the decline.
Manufacturing lost 1,700 jobs. Durable goods (-1,400) posted a majority of the decrease, as layoffs and closures continued around the state.
Government employment fell 1,500. Seasonal losses at public educational facilities contributed to the decline.
Employment in trade, transportation and utilities declined (-1,400).
Construction lost 1,300 jobs. The drop was a combination of both seasonal factors and the continuing effects of the housing market.
Educational and health services increased 1,500. A majority of the gain occurred in health care and social assistance, as elder care programs expanded.