Arkansas Unemployment Drops to 3.4%, A Record Low

Arkansas’ unemployment rate dropped by one-tenth of a percentage point in July, to 3.4% from 3.5% in June.

The U.S. jobless rate of 3.7% in July was unchanged from June, according to a report released Friday by the state Department of Workforce Services.

“Dropping another one-tenth of percentage point in July, Arkansas’ jobless rate decreased for the third consecutive month. The unemployment rate of 3.4 percent is a new record low, breaking the record low of 3.5 percent set last month,” BLS Program Operations Manager Susan Price said in a news release.

Compared to July 2018, Arkansas’ nonfarm payroll employment is up by 19,200. Growth came in nine major industry sectors, while one sector saw a slight loss.

• Leisure and hospitality gained 7,000 jobs, mostly in food services.
• Employment in construction rose by 2,800.
• Trade, transportation and utilities added 2,400 jobs, with the gains being in wholesale trade and retail.
• Financial activities gained 2,100 jobs.
• Jobs in manufacturing increased by 2,000, mostly in nondurable goods.
• Educational and health services gained 1,300 jobs.
• Professional and business services added 700 jobs.
• Employment in government increased by 900.
• Other services gained 100 jobs.
• Information lost 100 jobs.
• Mining and logging neither gained or lost jobs compared to July 2018.