Arkansas’ unemployment rate fell one-tenth of a percentage point to 3.3% in June as nonfarm payrolls grew at the fastest rate in the nation, the Arkansas Division of Workforce Services reported Tuesday.
Month-over-month, Arkansas’ total job numbers grew by 0.6%, topping national rankings for the second time this year. The state added 5,000 jobs in June for a total of more than 1.381 million.
“The Arkansas economy continues to hit on all cylinders,” Hugh McDonald, Arkansas commerce secretary, said in a statement. “With more Arkansans working than ever before, companies across a wide range of industries have the confidence to invest and grow in The Natural State,” said Hugh McDonald, Secretary of Commerce.
The national unemployment rate increased one-tenth of a percentage point to 4.1% in June.
In Arkansas, there were 5,628 more people employed in June compared to May. It was the fourth straight month of record civilian labor force numbers.
The state’s labor force participation rate rose two-tenths of a percentage point to 57.7% in June.
“Pro-growth policies make a difference,” Gov. Sarah Huckabee Sanders said. “Today’s news confirms what Arkansans already know: when we cut taxes, slash red tape, and invest in our workforce, our economy can lead the nation.”
Compared to a year ago, unemployment is up by three-tenths of a percentage point. The number of employed is up by 13,496, the number of unemployed is up by 4,542 and the civilian labor force is up by 18,038.
In June, gains were posted in professional and business services (+2,300), construction (+2,200), trade-transportation-utilities (+1,700), manufacturing (+1,500), financial activities (+1,500), and private education and health Services (+1,500). Hiring outpaced education-related seasonal declines in Government (-7,000).
Compared to June 2023, there are 31,800 more nonfarm payroll jobs in Arkansas. The largest annual growth occurred in private education and health services (+10,900), professional and business services (+6,600), and construction (+5,000).
Other sectors and their changes from June 2023:
- Trade, transportation and utilities increased by 3,200
- Government increased by 2,400
- Leisure and hospitality increased by 2,300
- Financial activities increased by 1,900
- Mining and logging was unchanged
- Manufacturing decreased by 1,400
- Information decreased by 600
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