Arkansas job numbers rise by 1.4%, state jobless rate unchanged at 3.3%

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by Talk Business & Politics staff ([email protected]) ago 0 views 

Net annual Arkansas job growth rose 1.4% in July, but the number of unemployed rose 4.4%. The state’s July jobless rate was 3.3%, unchanged compared to June and slightly above the 3.2% in July 2023.

The number of employed in Arkansas during July was an estimated 1,354,671, up 18,622 jobs, or 1.4%, compared with July 2023, and above the 1,349,753 in June, according to the U.S. Bureau of Labor Statistics (BLS) report posted Friday (Aug. 16). The July numbers are preliminary and subject to revision.

Arkansas’ labor force, the number of people eligible to work, in July was 1,401,412, up 1.5% from the 1,380,565 in July 2023, and above the 1,396,283 in June. The state’s labor force participation rate in July was 57.9%, up from 57.6% in July 2023.

Arkansans without jobs in July totaled 46,471, down marginally from the 46,530 in June, and up 4.4% compared with the 44,516 in July 2023.

The biggest year-over-year sector gains were in Education and Health Services (8,900 more jobs) Professional and Business Services (4,700 more jobs, and Construction (3,400 more jobs).

NATIONAL NUMBERS
Unemployment rates were higher in July in 13 states, lower in 1 state, and stable in 36 states. Twenty-eight states and the District had jobless rate increases from a year earlier, 2 states had decreases, and 20 states had little change. The national unemployment rate rose by 0.2 percentage point over the month to 4.3% and was 0.8 percentage point higher than in July 2023.

South Dakota had the lowest jobless rate in July at 2%, followed by Vermont at 2.1%, and North Dakota at 2.2%. The rate in Mississippi of 2.7% set a new series low. (All state series begin in 1976.) The District of Columbia had the highest unemployment rate at 5.5%, followed by Nevada at 5.4%. In total, 28 states had unemployment rates lower than the U.S. figure of 4.3%, 4 states had higher rates, and 18 states had rates that were not appreciably different from that of the nation.

Over the year, nonfarm payroll employment rose in 28 states and was essentially unchanged in 22 states and the District of Columbia. The largest job gains occurred in California (+284,400), Texas (+265,500), and Florida (+229,500).

JOB SECTOR NUMBERS
Trade, Transportation, and Utilities
July 2024: 269,300
June 2024: 269,300
July 2023: 267,500
April marked an employment record for the sector with 269,700 jobs.

Government
July 2024: 213,000
June 2024: 212,900
July 2023: 211,000
Sector employment hit a peak of 224,100 in May 2010.

Education and Health Services
July 2024: 216,500
June 2024: 216,100
July 2023: 207,600
July marked an employment record for the sector.

Manufacturing
July 2024: 162,300
June 2024: 162,000
July 2023: 162,600
Manufacturing, once the state’s largest jobs sector, posted record employment of 247,600 in February 1995.

Professional and Business Services
July 2024: 160,100
June 2024: 160,900
July 2023: 155,400
June marked an employment record for the sector.

Leisure and Hospitality
July 2024: 127,900
June 2024: 128,000
July 2023: 126,600
March marked an employment record for the sector with 130,200 jobs.

Financial Activities
July 2024: 72,000
June 2024: 71,400
July 2023: 70,200
July marked an employment record for the sector.

Construction
July 2024: 66,300
June 2024: 67,100
July 2023: 62,900
February marked an employment record for the sector with 68,000 jobs.