Arkansas Unemployment Falls to 3.9% as Employment Hits Record 1.40 Million
Updated
Updated · Jonesboro Right Now · Sep 18
Arkansas Unemployment Falls to 3.9% as Employment Hits Record 1.40 Million
3 articles · Updated · Jonesboro Right Now · Sep 18
Summary
Arkansas’ seasonally adjusted jobless rate fell to 3.9% in August from 4.0% in July, the fourth straight monthly decline, while employed residents rose by 1,972 to a record 1,401,154.
12,200 nonfarm payroll jobs were added in August, driven largely by back-to-school hiring, with government up 5,700 — including 3,600 in state education and 2,900 in local education.
The labor force still grew by 192 to a record 1,458,078 even as the number of unemployed Arkansans dropped by 1,780 to 56,924; the state remained below the U.S. unemployment rate of 4.1%.
Over the year, Arkansas added 22,140 employed residents and lifted labor-force participation to 59.1%, while nonfarm payrolls rose 11,300, led by leisure and hospitality with a 6,200-job gain.
Why are government jobs driving Arkansas's recent monthly employment boom while simultaneously suffering significant year-over-year declines?
With Arkansas unemployment dropping below the national average, what hidden economic struggles are these record-breaking job numbers actually concealing?