Arkansas Unemployment Rate at 6.2 Percent in July

by Lee Hogan  on Monday, Aug. 18, 2014 9:03 am  

Arkansas' unemployment rate was 6.2 percent in July, down one-tenth of a percentage point from June, according to a report released Monday by the state Department of Workforce Services.

The report also revised the previously reported June unemployment rate from 6.2 percent to 6.3 percent.

In all, Arkansas' civilian labor force decreased by 7,900, the result of 7,200 fewer employed and 700 fewer unemployed Arkansans.

"Arkansas' unemployment rate declined one-tenth of a percentage point this month," DWS Communications Director Becky Heflin said. "Compared to July 2013, the rate is down one and five-tenths percentage points, and the number of unemployed is down 20,800."

While the unemployed is down more than 20,000 from a year ago, so is the labor force, down 26,800 from July 2013.

The U.S. jobless rate increased one-tenth of a percentage point, from 6.1 percent in June to 6.2 percent in July.

Labor Force

Arkansas' labor force has been on the decline for four consecutive months, falling below 1.3 million in July for the first time in more than five years.

After gaining 2,400 from January to February, the labor force held steady through March. Since then, it's toppled more than 30,000 workers.

Employed Workers

Much like the state's labor force, its employed workers pool has steadily decline since March. 

Employed workers in Arkansas grew by 7,600 between January and March, but has since contracted by 21,600 workers to its lowest mark in more than five years.

 

 

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