Today the Arkansas Division of Workforce Services, in conjunction with the Bureau of Labor Statistics, announced Arkansas’ seasonally adjusted unemployment rate remained stable at 3.4% in January 2023. The United States’ jobless rate declined to 3.4% in January, down from 3.5% in December.
Arkansas Civilian Labor Force Summary:
In January 2023, Arkansas’ civilian labor force rose by 478. There were 1,242 more employed compared to December 2022 and 764 fewer unemployed. Arkansas’ labor force participation rate remained unchanged between December 2022 and January 2023, at 57.4%.
Compared to January 2022, there are 11,599 additional employed Arkansans. The unemployment rate is up two-tenths of a percentage point, with 2,787 more unemployed. Arkansas’ labor force participation rate is up one-tenth of a percentage point, from 57.3% to 57.4% over the year.
Arkansas Nonfarm Payroll Job Summary:
In January 2023, Arkansas’ nonfarm payroll jobs declined by 12,300 to total 1,345,600. Most losses were seasonal, with Trade, Transportation, and Utilities down 4,900 jobs after the holiday season. Jobs in Government dropped 3,400, due in large part to the winter break at public colleges and universities. Gains were posted in Manufacturing, up 900 jobs.
Compared to January 2022, nonfarm payroll jobs are up 42,700. The largest gains were in Trade, Transportation, and Utilities (+10,900), Education and Health Services (+7,500), Leisure and Hospitality (+6,700), and Manufacturing (+6,100).
View the entire press release below.