Arkansas’ Unemployment Rate Declines to 3.6% in February
LITTLE ROCK, Ark. (Mar. 22, 2024) — Today, the Arkansas Division of Workforce Services, in conjunction with the Bureau of Labor Statistics, announced Arkansas’ seasonally adjusted unemployment rate decreased one-tenth of a percentage point from 3.7% in January to 3.6% in February. At 3.9%, the United States jobless rate increased two-tenths of a percentage point between January and February.
Arkansas Civilian Labor Force Summary:
- The civilian labor force in Arkansas declined by 260 in February. The number of unemployed in the State decreased by 1,365, while 1,105 more Arkansans are employed compared to January. The labor force participation rate declined one-tenth of a percentage point to 57.4%.
- Compared to February 2023, there are 6,481 additional employed Arkansans. There are now 9,746 more unemployed Arkansans actively looking for work and the unemployment rate is up seven-tenths of a percentage point. The labor force participation rate is the same as last February.
Arkansas Nonfarm Payroll Job Summary:
- In February, nonfarm payroll jobs rose by 8,000. The largest gains 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 February 2023, there are 13,400 more jobs in the State. The greatest annual growth was posted 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).
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.
For more Labor Market Data, visit our website at www.discover.arkansas.gov.
Media contact: Zoe Calkins, Communications Director, Arkansas Division of Workforce Services, zoe.calkins@arkansas.gov
