Arkansas Division of Workforce Services
09/20/2024 | Press release | Distributed by Public on 09/20/2024 08:57
Arkansas’ unemployment rate remains at 3.3% in August
09/20/2024
Arkansas' unemployment rate remains at 3.3% in August
LITTLE ROCK, Ark. (Sep. 20, 2024) - Today, the Arkansas Division of Workforce Services, Workforce Policy and Innovation, in conjunction with the Bureau of Labor Statistics, announced Arkansas' seasonally adjusted unemployment rate remained at 3.3% for a third consecutive month. The United States' jobless rate declined one-tenth of a percent point, from 4.3% in July to 4.2% in August.
Arkansas Civilian Labor Force Summary:
- Arkansas' civilian labor force rose by 4,062 in August, as 4,116 more Arkansans are employed compared to July. Both the civilian labor force and the number of employed remain at record high levels. Arkansas' labor force participation rate rose to 58.0%.
- Compared to August 2023, the number of employed Arkansans has increased 23,681. The labor force participation rate is up four-tenths of a percentage point, while the unemployment rate remains slightly lower compared to last August.
Arkansas Nonfarm Payroll Job Summary:
- In August, nonfarm payroll jobs increased 5,600. The largest gains were related to the start of the 2024-2025 school year, with jobs in Government up 3,800. Private Education and Health Services added 3,100 jobs. Manufacturing rose by 1,100, mostly in durable goods manufacturing (+1,000). Jobs in Leisure and Hospitality declined by 2,300, with reported losses across all subsectors.
- Compared to August 2023, nonfarm payroll jobs are up 26,000. Nine of the eleven major industry sectors reported annual growth. The largest expansions were posted in Private Education and Health Services (+10,000), Professional and Business Services (+6,100), Construction (+3,800), and Financial Activities (+2,200).
Arkansas Civilian Labor Force (Seasonally Adjusted)
Source: U.S. Bureau of Labor Statistics, Current Population Survey. More information about the data is available at https://www.bls.gov/cps/definitions.htm.
Arkansas Nonfarm Payroll Jobs (Not Seasonally Adjusted, In Thousands)
Seasonally Adjusted Unemployment Rates- Arkansas vs. United States (3-Year Comparison)
Job Gains/Losses by Major Industry Sectors- August 2023 to August 2024 (Not Seasonally Adjusted)
About the Arkansas Department of Commerce
The Arkansas Department of Commerce is the umbrella department for workforce and economic development drivers. Its divisions and regulatory boards include the Division of Aeronautics, Waterways Commission, Wine Producers Council, Workforce Services, State Bank Department, Insurance Department, Securities Department, Economic Development Commission, and Development Finance Authority.
About the Arkansas Division of Workforce Services
The Division of Workforce Services has been reorganized into three new divisions within the Department of Commerce: Reemployment, Workforce Policy and Innovation, and Arkansas Workforce Connections. Reemployment administers the unemployment compensation program. Workforce Policy and Innovation administers the Arkansas Workforce Development Board, the Labor Market Information and Bureau of Labor Statistics programs. Arkansas Workforce Connections houses the Office of Skills Development, Employment and Training, Adult Education, Rehabilitation Services, and Services for the Blind.
www.dws.arkansas.gov | Facebook: facebook.com/arkdws | X: @ArkansasDWS
About Bureau of Labor Statistics (BLS)
The Bureau of Labor Statistics measures labor market activity, working conditions, price changes, and productivity In the U.S. economy to support public and private decision-making.
About Local Area Unemployment Statistics (LAUS)
The LAUS program produces monthly and annual employment, unemployment, and labor force data for Census regions and divisions, States, counties, metropolitan areas, and many cities, by place of residence.
About Current Employment Statistics (CES)
The CES program produces detailed industry estimates of employment, hours, and earnings of workers on nonfarm payrolls. CES State and Metro Area produces data for all 50 States, the District of Columbia, Puerto Rico, the Virgin Islands, and about 450 metropolitan areas and divisions.
Posted By: Workforce Connections