November jobless rates fall in all Arkansas metro areas, lowest at 3.1%

Seven of the eight metro areas in or connected to Arkansas had jobless rate declines in November compared to October, and all eight had declines compared to November 2014. The Memphis-West Memphis area jobless rate in November was 6.1%, unchanged compared to October.

During November, the lowest metro jobless rate in the state was 3.1% in Northwest Arkansas and the highest rate was 6.3% in the Pine Bluff area, according to figures from the U.S. Bureau of Labor Statistics. November data is subject to revision.

The November jobless rate in central Arkansas was 3.9%, below the 4.2% in October and a full percentage point below the 4.9% in November 2014.

Metro employment during November of 335,866 was below the 337,135 in October, but up 13,036 jobs compared to the 322,830 in November 2014. The size of the central Arkansas regional workforce during November was estimated at 349,451, below the 351,818 in October, and better than the 339,190 in November 2014.

Northwest Arkansas’ jobless rate fell to 3.1% in November thanks to an almost 4% gain in year-over-year jobs and a more than 17% drop in the number of unemployed compared to November 2014. Metro employment in the region during November of 242,065 was just below the 242,066 in October, and up 8,739 jobs, or 3.74%, compared to the 233,326 in November 2014. The size of the Northwest Arkansas regional workforce during November was estimated at 249,883, down from the 250,552 in October, and above the the 243,795 in November 2014.

Job growth in the Fort Smith metro is not as robust as most other Arkansas regions, but year-over-year job numbers were up almost 1% and the November jobless rate of 5% was the lowest since a 4.9% rate in September 2008. The number of employed in the Fort Smith region totaled 114,352 in November, down from 114,986 in October, but up an estimated 1,037 jobs compared to the 113,315 employed in November 2014. The number of employed in the metro area is down 8.8% compared to the revised high of 125,426 in November 2006 – or 11,074 fewer jobs than the peak metro employment.

The jobless rate in the Jonesboro metro area during November was 3.9%, down from 4% in October but below the 4.9% in November 2014. The Jonesboro jobless rate has not been below 4% since October 2000 when it hit 3.7%.

Metro employment during November of 60,425 was just below the estimated 60,455 in October, and up 2,703 jobs compared to the 57,722 in November 2014. The size of the Jonesboro metro workforce during November was estimated at 62,885, down from 62,998 in October, and better than the 60,670 in November 2014.

NATIONAL NUMBERS
Unemployment rates were lower in November than a year earlier in 322 of the 387 U.S. metro areas, higher in 54 areas, and unchanged in 11, noted the broad BLS report.

The U.S. unemployment rate in November was 5%, unchanged from October and down from 5.8% from a year earlier. Arkansas’ jobless rate was 5% in November, down from 5.1% in October and down from 5.7% in November 2014.

ARKANSAS METRO AREAS
Fayetteville-Springdale-Rogers
November 2015: 3.1%
October 2015: 3.4%
November 2014: 3.9%

Fort Smith
November 2015: 5%
October 2015: 5.1%
November 2014: 5.5%

Hot Springs
November 2015: 4.9%
October 2015: 5.2%
November 2014: 5.9%

Jonesboro
November 2015: 3.9%
October 2015: 4%
November 2014: 4.9%

Little Rock-North Little Rock-Conway
November 2015: 3.9%
October 2015: 4.2%
November 2014: 4.8%

Memphis-West Memphis
November 2015: 6.1%
October 2015: 6.1%
November 2014: 7.3%

Pine Bluff
November 2015: 6.3%
October 2015: 6.5%
November 2014: 7.1%

Texarkana
November 2015: 4.8%
October 2015: 5%
November 2014: 5.5%