Arkansas unemployment rate increases to 2.7% in August
JONESBORO, Ark. (KAIT/Edited News Release) - The Arkansas Division of Workforce Services, in conjunction with the Bureau of Labor Statistics, announced Arkansas’ seasonally adjusted unemployment rate increased one-tenth of a percentage point, from 2.6% in July to 2.7% in August.
On Sept. 19, it was announced that the United States’ jobless rate rose three-tenths of a percentage point, from 3.5% in July to 3.8% in August.
Arkansas Civilian Labor Force Summary:
• In August, the civilian labor force in Arkansas increased by 2,556 while adding 895 more employed Arkansans. Both remain at record-high levels. Unemployment rose for the first time since October 2022, with 1,661 more Arkansans actively looking for work in August. Arkansas’ labor force participation rate was unchanged at 57.7 percent over the month.
• Compared to August 2022, there are 28,229 more employed and 9,525 fewer unemployed Arkansans. The State unemployment rate is down seven-tenths of a percentage point while the labor force participation rate is up a slight one-tenth of a percentage point.
Arkansas Nonfarm Payroll Job Summary:
• In August, nonfarm payroll jobs in Arkansas rose 5,100. Gains were largely seasonal and related to the start of the school year. The largest growth occurred in Government (+4,000), Professional and Business Services (+2,400), Leisure and Hospitality (+1,300), and Private Educational and Health Services (+1,000).
• Compared to August 2022, nonfarm payroll jobs are up 29,700. Notable annual growth was reported in Leisure and Hospitality (+12,900); Private Education and Health Services (+7,000); Construction (+5,800); and Other Services (+2,800).
Copyright 2023 KAIT. All rights reserved.