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Fri July 19, 2024

By Press Release

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Arkansas’ unemployment rate declines to 3.3% in June

Arkansas Department Of Commerce Arkansas’ Unemployment Rate Unemployment Rate Declines
Arkansas’ unemployment rate declines to 3.3% in June
LITTLE ROCK, Ark. (July 19, 2024) — Today, the Arkansas Division of Workforce Services, Workforce Policy and Innovation, in conjunction with the Bureau of Labor Statistics, announced Arkansas’ seasonally adjusted unemployment rate decreased one-tenth of a percentage point, from 3.4% in May to 3.3% in June. At 4.1%, the United States jobless rate increased one-tenth of a percentage point in June.  Arkansas Civilian Labor Force Summary:  Arkansas’ civilian labor force increased by 5,206 in June, pushing the labor force participation rate up to 57.7%. There are 5,628 more employed Arkansans compared to last month, as employment and the civilian labor force continue to be at record high levels for a 4th consecutive month. Compared to June 2023, the number of employed in Arkansas is up 13,496. There are 4,542 more unemployed Arkansans actively seeking work, and the civilian labor force is up 18,038, both contributing to an unemployment rate increase of three-tenths of a percentage point over the year. Arkansas’ labor force participation rate is up one-tenth of a percentage point.  Arkansas Nonfarm Payroll Job Summary: 
Nonfarm payroll jobs rose by 5,000 in June, setting another record-high level of jobs. Gains were posted in Professional and Business Services (+2,300), Construction (+2,200), Trade-Transportation-Utilities (+1,700), Manufacturing (+1,500), Financial Activities (+1,500), and Private Education and Health Services (+1,500). Hiring outpaced the education-related seasonal declines in Government (-7,000).Compared to June 2023, there are now 31,800 more nonfarm payroll jobs in Arkansas. The largest annual growth occurred in Private Education and Health Services (+10,900), Professional and Business Services (+6,600), and Construction (+5,000). Arkansas Civilian Labor Force (Seasonally Adjusted)
Source: U.S. Bureau of Labor Statistics, Current Population Survey. More information about the data is available at https://www.bls.gov/cps/definitions.htm Arkansas Nonfarm Payroll Jobs (Not Seasonally Adjusted, In Thousands)
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