Arkansas’ Unemployment Rate Drops to 7.4 Percent

Arkansas’ seasonally adjusted unemployment rate declined two-tenths of a percentage point from 7.6 percent in October to 7.4 percent in November.

The state Department of Workforce Services said Arkansas’ civilian labor force increased 7,900 in November, a result of 10,300 more employed and 2,400 fewer unemployed Arkansans.

The decline in Arkansas’ unemployment rate reflects the decrease that occurred on the national level,” said DWS Communications Director Kimberly Friedman. “Arkansas experienced fewer layoffs in November which contributed to the decline in our rate.”

The United States’ jobless rate, at 10 percent, also dropped two-tenths of a percentage point in November.

Nonfarm payroll jobs in Arkansas decreased 800 in November to total 1,183,200, the department said. “Job losses occurred in six major industry sectors, offsetting gains in four sectors. One sector remained the same,” according to DWS.

Highlights of the report:

  • Leisure and hospitality experienced the largest decline, 1,800 fewer jobs. Most of the loss was because of seasonal fluctuations in accommodation and food services.
  • Employment in educational and health services fell 1,500. Most of the losses occurred in health care and social assistance.
  • Professional and business services jobs fell 1,300. Administrative and support services, which includes employment and business support activities, dropped 800.
  • The largest growth occurred in trade, transportation, and utilities, sectors that added 3,000 jobs. Holiday shopping helped push up the retail sector, which added 2,100 jobs.

To see further details of the report, click here.

 



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