Arkansas Unemployment Rate Drops to 7.4 Percent

Arkansas unemployment rate declined two-tenths of a percentage point from 7.6 percent in February to 7.4 percent in March, according to a report Friday from the Department of Workforce Services.

"Arkansas’ unemployment rate continues to show signs of improvement," DWS Communications Director Kimberly Friedman said in a news release.

"The last time we experienced a rate of 7.4 percent was in June 2009. Additionally, March was the eighth consecutive month of employment growth."

The report said Arkansas’ civilian labor force increased by 3,600, with 5,500 more employed and 1,900 fewer unemployed Arkansans.

The U.S. jobless rate decreased one-tenth of a percentage point from 8.3 percent in February to 8.2 percent in March.

Since March 2011, the report said, nonfarm payroll jobs in Arkansas increased by 6,000, with seven major industry sectors showing growth, offsetting declines in four industries:

• Leisure and hospitality recorded the greatest expansion, up by 5,200 jobs, with most — 4,400 — in food services.
• Jobs in educational and health services increased by 4,700. Health care and social assistance reported a majority of the gain, up by 3,700.
• Government added 3,400 jobs. The growth in local (up by 3,500) and state (up by 700) government was related to expansions in public education.
• Employment in manufacturing fell by 5,000. The losses in nondurable goods (down by 6,000) more than offset the moderate increases in durable goods (up by 1,000).
• Jobs in professional and business services dropped by 3,000. Professional-scientific- technical services posted a majority of the decrease, down by 2,400, which the report said was "related in part to reported declines in advertising and public relations services and in management consulting."

Since February, eight major industry sectors reported gains, two declined slightly and one remained the same:

• Leisure and hospitality posted the largest increase, up by 4,900. Most of the growth — 4,500 — was attributed to seasonal hiring in accommodation and food services.
• Trade, transportation, and utilities added 3,300 jobs, with a majority seasonal, occurring in retail trade, up by 1,900.
• Employment in educational and health services rose by 1,100. All increases were reflected in health care and social assistance.