July Employment Numbers Send Mixed Signals In Central Arkansas

Central Arkansas’ jobless rate rose slightly in July, but so did the size of its employed and overall labor force.

The July jobless rate of 6.0% was above the June rate of 5.8%, but below the 7.2% rate posted in July 2013. July marked the sixth consecutive month the Central Arkansas metro jobless rate has been below 7%.

Metro employment of 319,945 was slightly higher than 318,926 in June, but was below the 321,642 in July 2013, according to figures released Wednesday (Aug. 27) by the U.S. Bureau of Labor Statistics. The July numbers are subject to revision.

The number of unemployed rose in July compared to June. An estimated 20,569 were unemployed in the Little Rock-North Little Rock-Conway metropolitan statistical area during the month compared to 19,720 one month ago. Compared to July 2013 when 24,916 were unemployed, there has been a fall-off of more than 4,000 workers in the jobless category.

The size of the Central Arkansas regional workforce during July was estimated at 340,514, up slightly from 338,646 in June, but below the 346,558 during July 2013. The average annual monthly labor size was 340,819 in 2013, 343,355 during 2012, 342,085 during 2011 and 341,285 during 2010.

All of the eight metro areas in or connected to Arkansas had jobless rate increases in July compared to June, but all had jobless rate declines compared to July 2013. During July, the lowest metro jobless rate in the state was 5.3% in Northwest Arkansas and the highest rate was 9.2% in the Pine Bluff area.

NATIONAL NUMBERS
Unemployment rates were lower in July than a year earlier in 348 of the 372 metropolitan areas, higher in 16 areas, and unchanged in eight areas, noted the broad BLS report.

The U.S. unemployment rate in July was 6.2%, down from 7.3% from a year earlier. Arkansas’ jobless rate was 6.2% in July, down from 6.3% in June and down from 7.7% in July 2013.

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
July 2014: 5.3%
June 2014: 4.9%
July 2013: 6.3%

Fort Smith
July 2014: 6.5%
June 2014: 6.4%
July 2013: 8.2%

Hot Springs
July 2014: 6.7%
June 2014: 6.5%
July 2013: 8.1%

Jonesboro
July 2014: 6.1%
June 2014: 6%
July 2013: 7.8%

Little Rock-North Little Rock-Conway
July 2014: 6%
June 2014: 5.8%
July 2013: 7.2%

Memphis-West Memphis
July 2014: 8.9%
June 2014: 8.7%
July 2013: 9.6%

Pine Bluff
July 2014: 9.2%
June 2014: 8.6%
July 2013: 10.9%

Texarkana
July 2014: 6.5%
June 2014: 6.3%
July 2013: 7.7%