State Unemployment Hits Record Low of 2.8%

State Unemployment Hits Record Low of 2.8%

Arkansas' unemployment rate declined to a record low of 2.8% in April from 3% in March, according to a report Friday from the state Division of Workforce Services.

The labor force rose by 2,945 from March to April, increasing for the seventh straight month. The report said the labor force participation rate was 57.5% in April, rising 0.1% from March.

The U.S. jobless rate stood at 3.4% in April, down one-tenth of a percentage point from March.

Nonfarm payroll jobs increased to 1,360,700, a new record high. Compared to April 2022, nonfarm payroll jobs were up 33,800.

The largest annual increases were in leisure and hospitality (+9,100), trade, transportation and utilities (+6,500), private education and health services (+5,700), construction (+5,300), and manufacturing (+2,300).

Other sectors and their changes from April 2022:

  • Other services rose by 2,100
  • Government increased by 1,500
  • Professional and business services rose by 1,200
  • Information rose by 100
  • Mining and logging declined by 200
  • Financial activities increased by 200