Jobless rates decline in most Arkansas metro areas in August

August job numbers show that five of the eight metro areas in or connected to Arkansas had year-over-year jobless rate declines. Northwest Arkansas had the lowest August rate at 2.6%, and the Pine Bluff area had the highest rate at 4.9%.

The jobs report from the the U.S. Bureau of Labor Statistics (BLS) shows that Arkansas’ four largest metro regions – areas with most of the workforce in the state – had a combined 26,834 year-over-year job gains in August, above Arkansas’ 23,681 net job gains in August. The metro tally above the state number continues to show job growth primarily in the state’s larger urban areas.

Arkansas’ jobless rate in August was 3.3%. The August numbers are preliminary and subject to revision.

Central Arkansas – Little Rock, North Little Rock and Conway – had 367,734 employed in August, up 11,216 jobs, or 3.15%, compared with August 2023. The metro had 12,150 unemployed, up from 12,104 in August 2023. Northwest Arkansas, the state’s second largest metro area, had an estimated 314,215 jobs in August, up 11,067 jobs, or 3.65%, compared with August 2023. The metro had 8,365 unemployed, down from 8,497 in August 2023.

The Fort Smith metro, Arkansas’ third largest metro, had an estimated 118,344 jobs in August, up 2,853 jobs, or 2.5%, compared with August 2023. Regional employment remains well below the peak of 124,098 in July 2006. The metro had 4,418 unemployed, down from 4,841 in August 2023. The Jonesboro metro had an estimated 67,191 jobs in August, up 2.6% compared with August 2023. The metro had 2,108 unemployed, down marginally from 2,178 in August 2023.

NATIONAL NUMBERS
Unemployment rates were higher in August than a year earlier in 315 of the 389 metro areas, lower in 54 areas, and unchanged in 20 areas, according to the BLS report. A total of 34 areas had jobless rates of less than 3% and 7 areas had rates of at least 8%. Nonfarm payroll employment increased over the year in 54 metro areas and was essentially unchanged in 335 areas. The national unemployment rate in August was 4.4%, up from 3.9% a year earlier.

In August, Sioux Falls, S.D., had the lowest unemployment rate at 1.9%. The next lowest rates were in Burlington-South Burlington, Vt.; Madison, Wisc.; and Rapid City, S.D., at 2.1% each. El Centro, Calif., had the highest rate at 20.2%. A total of 238 areas had August jobless rates below the U.S. rate of 4.4%, 139 areas had rates above it, and 12 areas had rates equal to that of the nation.

METRO JOBS DATA
Following are labor market data for the eight metro areas.
• Northwest Arkansas
Labor force
August 2024: 322,580
August 2023: 311,645

Employment
August 2024: 314,215
August 2023: 303,148

Unemployed
August 2024: 8,365
August 2023: 8,497

Jobless rate
August 2024: 2.6%
August 2023: 2.7%

• Fort Smith metro (Arkansas-Oklahoma)
Labor force
August 2024: 122,762
August 2023: 120,332

Employment
August 2024: 118,344
August 2023: 115,491

Unemployed
August 2024: 4,418
August 2023: 4,841

Jobless rate
August 2024: 3.6%
August 2023: 4%

• Hot Springs
Labor force
August 2024: 41,916
August 2023: 41,758

Employment
August 2024: 40,372
August 2023: 40,116

Unemployed
August 2024: 1,544
August 2023: 1,642

Jobless rate
August 2024: 3.7%
August 2023: 3.9%

• Jonesboro
Labor force
August 2024: 69,299
August 2023: 67,671

Employment
August 2024: 67,191
August 2023: 65,493

Unemployed
August 2024: 2,108
August 2023: 2,178

Jobless rate
August 2024: 3%
August 2023: 3.2%

• Central Arkansas
Labor force
August 2024: 379,885
August 2023: 368,622

Employment
August 2024: 367,734
August 2023: 356,518

Unemployed
August 2024: 12,150
August 2023: 12,104

Jobless rate
August 2024: 3.2%
August 2023: 3.3%

• Memphis/West Memphis (Tennessee-Arkansas)
Labor force
August 2024: 623,883
August 2023: 621,427

Employment
August 2024: 596,035
August 2023: 594,038

Unemployed
August 2024: 27,848
August 2023: 27,389

Jobless rate
August 2024: 4.5%
August 2023: 4.4%

• Pine Bluff
Labor force
August 2024: 32,255
August 2023: 32,105

Employment
August 2024: 30,670
August 2023: 30,583

Unemployed
August 2024: 1,585
August 2023: 1,522

Jobless rate
August 2024: 4.9%
August 2023: 4.7%

• Texarkana (Arkansas-Texas)
Labor force
August 2024: 63,278
August 2023: 62,505

Employment
August 2024: 60,554
August 2023: 59,861

Unemployed
August 2024: 2,724
August 2023: 2,644

Jobless rate
August 2024: 4.3%
August 2023: 4.2%