The Arkansas Arkansas Civilian Labor Force Summary:
Labor force data, produced by the U.S. Department of Labor, Bureau of Labor Statistics and released today by the Arkansas Division of Workforce Services, show Arkansas’ seasonally adjusted unemployment rate declined three-tenths of a percentage point, from 3.4 percent in November to 3.1 percent in December. Arkansas’ civilian labor force decreased by 1,098, a result of 3,750 fewer unemployed and 2,652 additional employed Arkansans. The United States’ jobless rate declined to 3.9 percent in December, down three-tenths of a percentage point from 4.2 percent in November.
BLS Program Operations Manager Susan Price said, “The unemployment rate in Arkansas dropped to 3.1 percent in December, a new record low rate for the State. While employment has increased for a second month, there are slightly fewer employed Arkansans compared to December 2020. Unemployment is down over the year, as the number of Arkansans actively looking for work has declined for the last six months.”
Arkansas Nonfarm Payroll Job Summary:
Arkansas’ nonfarm payroll jobs decreased 1,500 in December to total 1,291,100. Six major industry sectors posted declines, more than offsetting gains in four major sectors. Educational and health services reported the greatest loss, down 2,200 jobs. All decreases were in health care and social assistance (-2,300), with reported contractions in activities such as childcare services, individual and family services, and offices of specialty health practitioners. Small, mostly seasonal declines were posted in construction (-600) and leisure and hospitality (-500). The largest increase occurred in trade, transportation, and utilities (+2,000). Most of the gains were related to holiday hiring in retail trade (+1,200) and wholesale trade (+900).
Compared to December 2020, nonfarm payroll jobs in Arkansas are up 27,300. Growth was reported in eight major industry sectors, with five sectors adding 4,300 or more jobs each. Jobs in professional and business services rose 9,600. Most of the gains occurred in administrative and support services (+7,400). Trade, transportation, and utilities added 5,200 jobs, mostly in wholesale trade (+2,500) and transportation-warehousing-utilities (+2,300). Jobs in manufacturing are up 4,900, all in durable goods (+7,100). Employment in leisure and hospitality rose 4,400, with expansions in all subsectors. Financial activities increased 4,300. Most of the gains were in finance and insurance (+3,900). Annual losses were posted in construction (-2,300) and government (-1,900).
View the full report below.