Arkansas employment figures rise by 1.4%, state unemployment rate remains at 3.3%

Net annual job growth in Arkansas rose 1.4% in July, but the number of unemployed increased 4.4%. The state's unemployment rate was 3.3% in July, unchanged from June and slightly above the 3.2% expected in July 2023.

Arkansas's employment count was an estimated 1,354,671 in July, up 18,622 jobs, or 1.4%, from July 2023 and above the 1,349,753 jobs in June, according to the U.S. Bureau of Labor Statistics (BLS) report released Friday (Aug. 16). July's figures are preliminary and subject to revision.

Arkansas's labor force, or the number of people eligible to work, was 1,401,412 in July, up 1.5% from the 1,380,565 in July 2023 and up from the 1,396,283 in June. The state's labor force participation rate was 57.9% in July, up from 57.6% in July 2023.

In July, 46,471 Arkansas residents were unemployed, a slight decrease from the 46,530 in June and a 4.4% increase from the 44,516 in July 2023.

The largest year-on-year increases were in the education and health care sectors (8,900 additional jobs), professional and business services (4,700 additional jobs) and construction (3,400 additional jobs).

NATIONAL NUMBERS
The unemployment rate was higher in 13 states in July, lower in one state and stable in 36 states. In 28 states and the District, the unemployment rate increased from a year ago, in two states it decreased, and in 20 states there was little change. The national unemployment rate increased 0.2 percentage points to 4.3% during the month and was 0.8 percentage points higher than in July 2023.

South Dakota had the lowest unemployment rate in July at 2%, followed by Vermont at 2.1% and North Dakota at 2.2%. Mississippi's rate of 2.7% marked a new low. (All state figures begin in 1976.) The District of Columbia had the highest unemployment rate at 5.5%, followed by Nevada at 5.4%. Overall, 28 states had unemployment rates lower than the U.S. rate of 4.3%, 4 states had higher rates, and 18 states had rates that did not differ significantly from the national rate.

During the year, nonfarm payroll employment increased in 28 states and remained essentially unchanged in 22 states and the District of Columbia. The largest employment increases were in California (+284,400), Texas (+265,500) and Florida (+229,500).

Figures on the professional field
Trade, transport and supply
July 2024: 269,300
June 2024: 269,300
July 2023: 267,500
With 269,700 jobs, April marked an employment record for the sector.

Government
July 2024: 213,000
June 2024: 212,900
July 2023: 211,000
Employment in this sector reached a peak of 224,100 in May 2010.

Education and health services
July 2024: 216,500
June 2024: 216,100
July 2023: 207,600
July marked an employment record for the sector.

Manufacturing
July 2024: 162,300
June 2024: 162,000
July 2023: 162,600
Manufacturing, once the state's top job-producing sector, reported record employment of 247,600 in February 1995.

Professional and business services
July 2024: 160,100
June 2024: 160,900
July 2023: 155,400
June marked an employment record for the sector.

Leisure and hospitality
July 2024: 127,900
June 2024: 128,000
July 2023: 126,600
With 130,200 jobs, March marked an employment record for the sector.

Financial activities
July 2024: 72,000
June 2024: 71,400
July 2023: 70,200
July marked an employment record for the sector.

construction
July 2024: 66,300
June 2024: 67,100
July 2023: 62,900
With 68,000 jobs, February marked an employment record for the sector.

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