Arkansas Jobless Rate Sets New Low At 3.4% In July

Photo Courtesy: MGN Galleries

ARKANSAS (TB&P) — Arkansas’ jobless rate fell to a record low of 3.4% in July from the 3.5% in June, and below the 3.6% in July 2018. Year-over-year, the state economy added 15,625 jobs, a 1.2% increase according to data posted Friday (Aug, 16) by the U.S. Bureau of Labor Statistics.

The number of employed in Arkansas during July was an estimated 1,316,265, up 15,625 jobs compared with July 2018. The state’s labor force – the number of people eligible to work – was 1,363,167 in July up 1% compared with the 1,349,795 in July 2018. The July numbers are preliminary and subject to revision.

Arkansans without jobs in July totaled 46,902, down from 49,155 in July 2018 and lower than the 47,294 unemployed in June. Non-farm employment totaled 1,274,400 in July, down from the 1,275,300 in June and ahead of the 1,262,300 in July 2018.

Sectors with the biggest year-over-year gains were Leisure and Hospitality (5,000 new jobs), Trade, Transportation and Utilities (1,900) and Manufacturing (1,900). The Professional and Business services sector posted the largest year-over-year loss (down 2,100 jobs).

Jobs in the Trade, Transportation, and Utilities sector – the state’s largest job category – was 253,100 in July, up from 252,500 in June and up from the 251,200 in July 2018. The sector hit an employment record of 253,900 in January.

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