The state’s unemployment rate fell one-tenth of a percentage point to 3.6% in February, the Arkansas Division of Workforce Services reported Friday.
It’s the first monthly decline since the rate began rising from the record low of 2.6% in June.
The U.S. jobless rate in February increased two-tenths of a percentage point to 3.9%.
In Arkansas, the civilian labor force declined by 260, while the number of unemployed fell by 1,365. The labor force participation rate dipped one-tenth of a percentage point to 57.4%
Compared to February 2023, there were 6,481 more people employed in the state and 9,746 more who were unemployed. Arkansas’ unemployment rate is up seven-tenths of a percentage point compared to a year ago, and the labor force participation rate is the same.
Nonfarm payroll jobs rose by 8,000 to 1.355 million in February. The largest gains by category were in private education and health
services (+2,800); professional and business services (+2,500); government (+2,400); and leisure and hospitality (+2,300). Trade-transportation-utilities posted the largest monthly decline, down 2,000 jobs.
Compared to the same month a year ago, nonfarm payroll jobs were up by 13,400. The greatest annual growth by category was in private education and health services (+7,800) and construction (+6,700). Jobs in manufacturing declined by 4,300, with most of the loss occurring in durable goods manufacturing (-3,300).
Other sectors and their changes from February 2023:
- Other services increased by 500
- Financial activities increased by 200
- Mining and logging was flat
- Information decreased by 800
- Professional and business services fell by 300
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