All 8 Metro Areas See Large Year-over-year Declines In Unemployment

All of the eight metro areas in or connected to Arkansas had jobless rate declines in December 2014 compared to December 2013.

Five metro areas (Northwest Arkansas, Hot Springs, Jonesboro, Little Rock and Pine Bluff) had jobless rate increases compared to November, and two metro areas (Fort Smith and Memphis-West Memphis) were unchanged compared to November.

For the second consecutive month, only the Texarkana metro area had a jobless rate decline compared to November and December 2013.

During December, the lowest metro jobless rate in the state was 4.1% in Northwest Arkansas and the highest rate was 7.6% in the Memphis-West Memphis area.

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
Dec. 2014: 4.1%
Nov. 2014: 3.9%
Dec. 2013: 5.1%

Fort Smith
Dec. 2014: 5.5%
Nov. 2014: 5.5%
Dec. 2013: 7.7%

Hot Springs
Dec. 2014: 6%
Nov. 2014: 5.8%
Dec. 2013: 7.5%

Jonesboro
Dec. 2014: 5.1%
Nov. 2014: 4.8%
Dec. 2013: 6.6%

Little Rock-North Little Rock-Conway
Dec. 2014: 5%
Nov. 2014: 4.8%
Dec. 2013: 6.3%

Memphis-West Memphis
Dec. 2014: 7.6%
Nov. 2014: 7.6%
Dec. 2013: 8.5%

Pine Bluff
Dec. 2014: 7.2%
Nov. 2014: 6.8%
Dec. 2013: 9.7%

Texarkana
Dec. 2014: 5%
Nov. 2014: 5.2%
Dec. 2013: 7%

CENTRAL ARKANSAS
The central Arkansas metro area jobless rate was 5% in December, up from 4.8% in November and below the 6.3% in December 2013.

The size of the central Arkansas regional workforce during December was estimated at 335,383, below the 335,530 in November, and below the 337,716 in December 2013.

Central Arkansas’ metro employment of 318,557 in December was below the 319,362 in November, and up compared to the 316,541 during December 2013. The average annual monthly employment was 317,790 in 2013, 320,336 during 2012, 317,981 during 2011 and 317,383 during 2010.

NORTHWEST ARKANSAS
The jobless rate in the metro area during December was 4.1%, up from 3.9% in November and below the 5.1% in December 2013. The area jobless rate has been at or below 6% for 18 consecutive months, and below 5% the previous five months.

Metro employment during December of 224,509 was below the 225,630 in November, but above the 222,156 in December 2013, according to figures released from the U.S. Bureau of Labor Statistics. The December numbers are subject to revision.

The size of the Northwest Arkansas regional workforce during December was estimated at 234,132, down from the 234,831 in November, but above the 233,996 during December 2013. The average annual monthly labor size was 234,412 in 2013, 232,208 during 2012, 228,918 during 2011 and 225,974 during 2010.

FORT SMITH
Fort Smith’s metro jobless rate was 5.5% in December, unchanged compared to November, but lower than the 7.7% in December 2013, according to figures from the U.S. Bureau of Labor Statistics. December’s data is subject to revision.

The size of the Fort Smith regional workforce during December was 125,500, down from 126,646 during November, but 3.47% below the 130,024 during December 2013. The labor force reached a revised high of 140,253 in June 2007, meaning the December workforce size is down 10.5% from the peak number.

The number of employed in the Fort Smith region totaled 118,635 in December, down from 119,723 in November, and below the 119,964 employed in December 2013. The number of employed in the metro area is down 10.8% compared to the high of 133,061 in June 2006 – or 14,426 fewer jobs than the peak metro employment.

JONESBORO
The Jonesboro metro area jobless rate was 5.1% in December, up from 4.8% in November but below the 6.6% in December 2013. November marked the first time the rate was below 5% since November 2008.

The size of the Jonesboro regional workforce during December was estimated at 60,376, just slightly above the 60,360 in November, and above the 59,729 in December 2013.

Jonesboro metro employment during December of 57,290 was below the 57,471 in November, and up compared to the 55,766 during December 2013. The average annual monthly employment was 55,105 in 2013, 54,873 during 2012, 54,537 during 2011 and 53,345 during 2010.

NATIONAL NUMBERS
Unemployment rates were lower in December than a year earlier in 341 of the 372 metropolitan areas, higher in 25 areas, and unchanged in six areas, noted the broad BLS report.

The U.S. unemployment rate in December was 5.6%, down from 5.8% in November and down from 6.7% from a year earlier. Arkansas’ jobless rate was 5.7% in December, down from 5.9% in November and down from 7.4% in December 2013.