Fort Smith metro jobs up 1.63% year-over-year, jobless rate at 5.3%

Although the Fort Smith region still has fewer people employed than prior to the Great Recession, the jobs picture is improving, with the number of unemployed declining in September and the number of employed up 1.63% year-over-year.

Fort Smith’s metro jobless rate was 5.3% in September, just below the 5.4% in August, and lower than the 5.6% in September 2014, according to figures recently updated by the U.S. Bureau of Labor Statistics. September’s data is subject to revision.

The number of employed in the Fort Smith region totaled 114,367 in September, below the 114,482 in August, and up an estimated 1,837 jobs compared to the 112,530 employed in September 2014. The number of employed in the metro area is down 8.8% compared to the revised high of 125,426 in June 2006 – or more than 11,000 fewer jobs than the peak metro employment. Metro area employment averaged 111,588 in 2014, below the average of 122,993 in 2006.

The size of the Fort Smith regional workforce during September was 120,740, down from 121,068 during August, and better than the 119,267 during September 2014. The labor force reached a revised high of 132,004 in June 2007, meaning the September workforce size is down 8.5% from the peak number.

All of the eight metro areas in or connected to Arkansas had jobless rate declines in September compared to September 2014. Five areas (Northwest Arkansas, Fort Smith, Jonesboro, Pine Bluff and Texarkana) had jobless rate decreases compared to August. During September, the lowest metro jobless rate in the state was 3.5% in Northwest Arkansas and the highest rate was 7% in the Pine Bluff area.

FORT SMITH METRO NUMBERS
Unemployed persons in the region totaled an estimated 6,373 during September, down from 6,586 during August, and below the 6,737 during September 2014.

Jobs in the Trade, Transportation and Utilities sector — the region’s largest job sector —  totaled 23,000 in September, below the 23,400 in August, and below the 23,300 during September 2014. Employment in the sector reached a high of 24,700 in December 2007.

The Fort Smith area manufacturing sector employed an estimated 18,000 in September, unchanged compared to August, and below the 18,200 in September 2014. Sector employment is down almost 36% from a decade ago when September 2005 manufacturing employment in the metro area stood at 28,100. Annual average monthly employment in manufacturing has fallen from 27,900 in 2005, 20,700 in 2010, and to 18,100 in 2014.

Employment in the region’s tourism industry was 8,600 during September, down from 8,700 in August and below the 9,200 in September 2014. The sector reached an employment high of 9,300 in May and June of 2014. Annual average employment of 9,100 in 2014 was a new record for the metro sector.

In Education & Health Services, employment was 16,600 during September, up from 16,400 in August and September 2014. Employment in the sector reached a record 16,700 in October and December of 2012.

In the Government sector, employment was 18,000 during September, up from 16,700 in August and unchanged compared to September 2014.

NATIONAL NUMBERS
Unemployment rates were lower in September than a year earlier in 353 of the 387 U.S. metro areas, higher in 25 areas, and unchanged in nine, noted the broad BLS report.

The U.S. unemployment rate in September was 5.1%, unchanged from August and down from 5.9% from a year earlier. Arkansas’ jobless rate was 5.2% in September, down from 5.4% in August and down from 5.8% in September 2014.

Oklahoma’s jobless rate during September was 4.4%, down from 4.6% August, and up from 4.2% in September 2014. The Missouri jobless rate during September was 5.3%, down from 5.6% in August and below the 5.6% in September 2014.

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
September 2015: 3.5%
August 2015: 3.6%
September 2014: 4.3%

Fort Smith
September 2015: 5.3%
August 2015: 5.4%
September 2014: 5.6%

Hot Springs
September 2015: 5.3%
August 2015: 5.3%
September 2014: 6.1%

Jonesboro
September 2015: 4.3%
August 2015: 4.4%
September 2014: 5.2%

Little Rock-North Little Rock-Conway
September 2015: 4.4%
August 2015: 4.4%
September 2014: 5.2%

Memphis-West Memphis
September 2015: 6.4%
August 2015: 6.4%
September 2014: 7.6%

Pine Bluff
September 2015: 7%
August 2015: 7.5%
September 2014: 7.7%

Texarkana
September 2015: 4.8%
August 2015: 5%
September 2014: 5.8%

FORT SMITH METRO AREA HISTORY
Past annual average unemployment rates
2014: 6.2%
2013: 8%
2012: 8.1%
2011: 8.8%
2010: 8.5%
2009: 8.3%
2008: 5.1%
2007: 5.2%
2006: 4.8%
2005: 4.6%
2004: 5.2%
2003: 5.6%
2002: 5%
2001: 4.4%
2000: 3.7%