Job numbers continue to rise in most Arkansas metro areas

A July jobs report on U.S. metro areas shows that Arkansas job gains continue to be driven by the central Arkansas and Northwest Arkansas economies. Northwest Arkansas had the lowest rate at 3%, and the Pine Bluff area had the highest rate at 5.6% in the July report.

U.S. metro jobs data was posted Wednesday (Aug. 28) by the U.S. Bureau of Labor Statistics. Only the Memphis/West Memphis metro posted a year-over-year job drop in July. The July report is subject to revision.

Arkansas’ four largest metro regions – areas with most of the workforce in the state – had a combined 26,696 year-over-year job gains in July, well above Arkansas’ 18,622 job gains in July. The metro tally above the state number shows job growth primarily in the state’s larger urban areas.

Central Arkansas – Little Rock, North Little Rock and Conway – had 373,661 employed in July, up 11,417 jobs, or 3.2%, compared with July 2023. The metro had 13,830 unemployed, up from 12,309 in July 2023. Northwest Arkansas, the state’s second largest metro area, had an estimated 318,407 jobs in July, up 11,168 jobs, or 3.6%, compared with July 2023. The metro had 9,681 unemployed, up from 8,519 in July 2023.

The Fort Smith metro, Arkansas’ third largest metro, had an estimated 118,966 jobs in July, up 2,370 jobs, or 2.03%, compared with July 2023. Regional employment remains well below the peak of 124,098 in July 2006. The metro had 4,964 unemployed, up from 4,904 in July 2023. The Jonesboro metro had an estimated 68,188 jobs in July, up 2.6% compared with July 2023. The metro had 2,488 unemployed, up from 2,195 in July 2023.

NATIONAL NUMBERS
Unemployment rates were higher in July than a year earlier in 350 of the 389 metro areas, lower in 22 areas, and unchanged in 17 areas.. A total of 30 areas had jobless rates of less than 3% and 8 areas had rates of at least 8%. Nonfarm payroll employment increased over the year in 61 metro areas, decreased in 1 area, and was essentially unchanged in 327 areas.

In July, Sioux Falls, S.D., had the lowest unemployment rate at 1.6%. The next lowest rates were in Rapid City, S.D., at 1.8%, and Burlington-South Burlington, Vt., at 1.9%. El Centro, Calif., had the highest rate at 18.7%. A total of 227 areas had July jobless rates below the U.S. rate of 4.5%, 148 areas had rates above it, and 14 areas had rates equal to that of the nation.

In July, nonfarm payroll employment increased over the year in 61 metro areas, decreased in 1 area, and was essentially unchanged in 327 areas. The largest over-the-year percentage gains in employment occurred in College Station-Bryan, Texas, (6%), Merced, Calif. (5.2%), and Charleston-North Charleston, S.C. (5%).

METRO JOBS DATA
Following are labor market data for the eight metro areas.
• Northwest Arkansas
Labor force
July 2024: 328,088
July 2023: 315,758

Employment
July 2024: 318,407
July 2023: 307,239

Unemployed
July 2024: 9,681
July 2023: 8,519

Jobless rate
July 2024: 3%
July 2023: 2.7%

• Fort Smith metro (Arkansas-Oklahoma)
Labor force
July 2024: 123,930
July 2023: 121,500

Employment
July 2024: 118,966
July 2023: 116,596

Unemployed
July 2024: 4,964
July 2023: 4,904

Jobless rate
July 2024: 4%
July 2023: 4%

• Hot Springs
Labor force
July 2024: 42,940
July 2023: 42,678

Employment
July 2024: 41,157
July 2023: 40,925

Unemployed
July 2024: 1,783
July 2023: 1,753

Jobless rate
July 2024: 4.2%
July 2023: 4.1%

• Jonesboro
Labor force
July 2024: 70,676
July 2023: 68,642

Employment
July 2024: 68,188
July 2023: 66,447

Unemployed
July 2024: 2,488
July 2023: 2,195

Jobless rate
July 2024: 3.5%
July 2023: 3.2%

• Central Arkansas
Labor force
July 2024: 387,491
July 2023: 374,553

Employment
July 2024: 373,661
July 2023: 362,244

Unemployed
July 2024: 13,830
July 2023: 12,309

Jobless rate
July 2024: 3.6%
July 2023: 3.3%

• Memphis/West Memphis
Labor force
July 2024: 627,986
July 2023: 628,313

Employment
July 2024: 599,143
July 2023: 600,555

Unemployed
July 2024: 28,843
July 2023: 27,758

Jobless rate
July 2024: 4.6%
July 2023: 4.4%

• Pine Bluff
Labor force
July 2024: 32,885
July 2023: 32,444

Employment
July 2024: 31,037
July 2023: 30,781

Unemployed
July 2024: 1,848
July 2023: 1,663

Jobless rate
July 2024: 5.6%
July 2023: 5.1%

• Texarkana (Arkansas-Texas)
Labor force
July 2024: 63,590
July 2023: 63,003

Employment
July 2024: 60,771
July 2023: 60,258

Unemployed
July 2024: 2,816
July 2023: 2,745

Jobless rate
July 2024: 4.4%
July 2023: 4.4%