State Jobless Rate Remains at 3.3% in October

The state’s unemployment rate held at 3.3% in October, the Arkansas Division of Workforce Services reported Tuesday.

The U.S. jobless rate also held steady in October, remaining at 4.1%.

In Arkansas, the civilian labor force increased by 3,215, as 3,092 additional Arkansans were employed. The labor force participation rate remained at 58.1%. The civilian labor force and employment remain at record-high levels.

Compared to October 2023, there were 32,806 more people employed in the state. The unemployment rate was four-tenths of a percentage point lower, with 5,185 fewer unemployed Arkansans.

Arkansas’ labor force participation rate five-tenths of a percentage point year-over-year from 57.6%.

On a monthly basis, nonfarm payroll jobs rose by 9,600 in October. The largest gains were in private education and health services (+2,700), with most of the hiring in health care and social assistance (+2,300). Expansion was also reported in professional and business services (+2,200), trade-transportation-utilities (+1,900) and government (+1,900).

Compared to October 2023, Arkansas’ nonfarm payroll jobs rose by 21,400. The largest growth was in private education and health services (+12,300), professional and business services (+2,800), construction (+1,900), government (+1,600), manufacturing (+1,300) and trade-transportation-utilities (+1,300).

Other sectors and their changes from October 2023:

• Financial activities increased by 900
• Leisure & hospitality increased by 900
• Mining and logging increased by 200
• Information decreased by 300
• Other services decreased by 1,500