Arkansas’ seasonally adjusted unemployment rate hit a new low, 3.8 percent for May, a decrease of 1.6 percent since May 2015.
Labor force data, produced by the U.S. Department of Labor, Bureau of Labor Statistics and released today by the Arkansas Department of Workforce Services, shows Arkansas’ unemployment rate declined one-tenth of a percentage point from 3.9 percent in April.
The U.S. jobless rate dropped 0.3 percent in the same month to 4.7 percent for May.
Arkansas’ civilian labor force rose by 46, a result of 1,073 more employed and 1,027 fewer unemployed Arkansans.
The decline makes Arkansas one of 16 states with unemployment rates significantly below the national average.
According to BLS Program Operations Manager Susan Price, the number of unemployed people in Arkansas dropped to 51,773 in May.
“The number of unemployed in Arkansas has been on a steady decline since February 2011, when unemployment was at a record high of 114,892,” Price said in a news release.
Nonfarm payroll jobs in Arkansas increased 2,700 in May. Eight major industry sectors added jobs, while two declined and one remained stable.
Employment in educational and health services rose 1,500. Hiring was strong in nursing care facilities, hospitals, and physicians’ offices with 2,000 jobs added in health care and social assistance.
Seasonal losses were posted in both professional and business services (-700) and in government (-700).
Manufacturing added 600 jobs, all in durable goods manufacturing. However the industry has seen a 0.4 percent decrease in jobs since May 2015.
Compared to May 2015, Arkansas’ nonfarm employment has increased 21,900. Nine major industry sectors posted growth, with three adding 4,300 or more jobs, each. Two industries reported job losses. Jobs in educational and health services rose 7,000 and gains occurred in health care and social assistance, with 6,800 jobs added.
The largest decline occurred in mining and logging (-1,500), attributed to recent layoffs and closures, according to a news release from the ADWS.
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