Arkansas’ Unemployment Rate Increased to 3.1% in October

LITTLE ROCK, Ark. (Nov. 17, 2023) –

Today, in conjunction with the Bureau of Labor Statistics, the Arkansas Division of Workforce Services announced Arkansas’ seasonally adjusted unemployment rate increased two-tenths of a percentage point, from 2.9% in September to 3.1% in October. At 3.9%, the United States jobless rate rose one-tenth of a percentage point between September and October.

Arkansas Civilian Labor Force Summary:

• Arkansas’ civilian labor force added 803 in October, remaining at a record high level. Employment declined by 1,813 while unemployment rose by 2,616, marking the third month in a row that more Arkansans are actively looking for work. The labor force participation rate was unchanged in October.
• Compared to October 2022, there are 27,041 more employed and 5,413 fewer unemployed Arkansans. The unemployment rate is down four-tenths of a percentage point, while the labor force participation rate has grown by three-tenths of a percentage point over the year.

Arkansas Nonfarm Payroll Job Summary:

• In October, nonfarm payroll jobs in Arkansas increased by 3,700. Seven major industry sectors posted gains, with Trade-Transportation-Utilities (+2,000), Government (+2,000), and Construction (+1,300) adding the largest number of jobs.
• Compared to October 2022, nonfarm payroll jobs are up 11,700. The largest gains occurred in Construction (+7,900), Private Education and Health Services (+6,900), and Leisure and Hospitality (+5,900). Notable losses were reported in Trade-Transportation-Utilities (-5,100) and in Manufacturing (-2,800).

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)