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Fri April 19, 2024

By Press Release

Business

Arkansas’ Unemployment Rate Down to 3.5% in March

Arkansas Unemployment Down Workforce Economics
Arkansas’ Unemployment Rate Down to 3.5% in March
Today the Arkansas Division of Workforce Services, in conjunction with the Bureau of Labor Statistics, announced that Arkansas’ seasonally adjusted unemployment rate decreased one-tenth of a percentage point, from 3.6% in February to 3.5% in March. The United States’ jobless rate also declined one-tenth of a percentage point, from 3.9% in February to 3.8% in March. 


Arkansas Civilian Labor Force Summary:

  • Arkansas’ civilian labor force rose by 519 in March. There were 1,747 more employed Arkansans, while the number of unemployed in the State declined by 1,228. The labor force participation rate remained unchanged at 57.4% between February and March.
  • Compared to March 2023, there are 5,316 more employed in Arkansas. An additional 9,276 unemployed Arkansans are actively looking for work, pushing the unemployment rate up seven-tenths of a percentage point. The labor force participation rate remained stable over the year.


Arkansas Nonfarm Payroll Job Summary:

  • In March, Arkansas added 10,900 nonfarm payroll jobs. Gains were posted in Leisure and Hospitality (+4,800), Trade-Transportation-Utilities (+2,000), Manufacturing (+1,800), and Professional and Business Services (+1,800).
  • Compared to March 2023, there are 15,400 more jobs in the State. Notable growth occurred in Private Education and Health Services (+6,200) and Construction (+5,600). Manufacturing reported the largest decline (-2,100), mostly due to losses in durable goods manufacturing (-1,600).


Arkansas Civilian Labor Force (Seasonally Adjusted)

Source: U.S. Bureau of Labor Statistics, Current Population Survey. https://www.bls.gov/cps/definitions.htm


 

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