State Unemployment Rate Falls to 3%

State Unemployment Rate Falls to 3%

Arkansas' unemployment rate declined to 3% in March from 3.2% in February, according to a report Friday from the state Division of Workforce Services.

The report said employment in Arkansas has increased for six consecutive months. The labor force rose by 1,828 from February to March and was up by 7,893 from the same month last year.

The report said the labor force participation rate was 57.4% in March, unchanged from February.

The U.S. jobless rate stood at 3.5% in March, down one-tenth of a percentage point from February.

Year over year, the report said there were 10,118 more employed Arkansans in March. In all, nonfarm payroll jobs were up by 31,300. The largest gains were posted in the trade, transportation and utilities sector, up by 7,800 jobs.

Other sectors and their changes from March 2022:

  • Private education and health services rose by 6,800. 
  • Leisure and hospitality increased by 5,200.
  • Construction rose by 3,600.
  • Manufacturing rose by 2,900.
  • Other services rose by 2,400.
  • Government increased by 2,000.
  • Professional and business services rose by 1,200.
  • Information rose by 200.
  • Mining and logging declined by 200.
  • Financial activities declined by 600.