Arkansas’ unemployment rate holds steady
(The Center Square) – Arkansas’ unemployment rate remained unchanged in January while demonstrating a leap in the number of those employed from a year ago, according to the Arkansas Division of Workforce Services show.
Labor statistics show that the state’s unemployment rate stayed at 3.4% in January. That’s the same as December 2022, and in line with the U.S. jobless rate, which declined to 3.4% in January from 3.5%, the Division of Workforce Services said.
Arkansas’ labor force participation rate also remained the same from December to January at 57.4%, but there were 1,242 more people employed in January compared to December.
January’s data demonstrated a leap of almost 12,000 more people employed in Arkansas compared to last year and nonfarm payroll jobs up by 42,700.
Arkansas’ nonfarm payroll jobs dropped by 12,300, totaling 1,345,600 at the beginning of the year. The Division of Workforce Services said these losses were seasonal, with Trade, Transportation and Utilities decreasing by 4,9000 jobs after the holidays and Government dropping by 3,400, primarily due to winter break at public colleges and universities.
During this same period, data showed job gains were posted in manufacturing up by 900 jobs.
Last year’s most significant job increase included more than 10,000 in trade, transportation and utilities, and over 7,500 more in the private education and health services sectors. Bains were also recorded in leisure and hospitality, which added more than 6,7000 jobs. The manufacturing industry added over 6,100 jobs, according to the data.
