Arkansas’ unemployment rate held at 3.3% in July, the Arkansas Division of Workforce Services reported Friday.
The national unemployment rate increased two-tenths of a percentage point to 4.3% in July.
In Arkansas, the civilian labor force increased by 5,129 in July compared to June. The civilian labor force and employment remained at record-high levels for the fifth consecutive month, with the labor force participation rate rising two-tenths of a percentage point to 57.9%.
The unemployment rate is up by seven-tenths of a percentage point from the record low of 2.6% set in July 2023.
Compared to a year ago, there are 18,622 more employed Arkansans. The civilian labor force has risen by 20,847 and the labor force participation rate is up three-tenths of a percentage point to 57.9%.
Nonfarm payroll jobs decreased on a monthly basis by 15,000 due in large part to seasonal declines related to summer break at schools. Jobs in government fell by 11,000. Declines were also posted in other services (-2,000), professional and business services (-1,700) and construction (-1,500). Hiring occurred in financial activities (+900) and information (+500).
Compared to July 2023, nonfarm payroll jobs rose by 31,400. Private education and health services added 10,900 jobs, mostly in health care and social assistance (+8,600). Notable growth was also reported in professional and business services (+6,300), leisure and hospitality (+3,700), construction (+3,400) and trade-transportation-utilities (+2,900).
Other sectors and their changes from July 2023:
- Financial activities increased by 2,500
- Government increased by 1,800
- Mining and logging increased by 200
- Information was unchanged
- Manufacturing decreased by 100
- Other services decreased by 200
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