Arkansas’ unemployment rate remains stable at 3.4% in May

06/25/2024

FOR IMMEDIATE RELEASE- June 25, 2024
Zoe Calkins, zoe.calkins@arkansas.gov

Arkansas’ unemployment rate remains stable at 3.4% in May

LITTLE ROCK, Ark. (June 25, 2024)—Today, the Arkansas Division of Workforce Services, in conjunction with the Bureau of Labor Statistics, announced Arkansas’ seasonally adjusted unemployment rate remained stable at 3.4% between April and May. The United States jobless rate increased one-tenth of a percentage point over the month, from 3.9% in April to 4.0% in May.

Arkansas Civilian Labor Force Summary:

Arkansas’ civilian labor force rose by 2,798 in May, with 3,406 more Arkansans employed compared to last month. Both the civilian labor force and employment continue to be at record-high levels. Arkansas’ labor force participation rate and the unemployment rate remained stable between April and May.
Compared to May 2023, the number of employed in the State is up 8,502. There are now 6,795 more unemployed Arkansans actively seeking work, while the labor force participation rate remains unchanged over the year.

Arkansas Nonfarm Payroll Job Summary:

Nonfarm payroll jobs in Arkansas rose by 200 in May, setting another record-high number of jobs. Seasonal gains in Leisure and Hospitality (+1,600) were offset by declines in Trade, Transportation, and Utilities (-1,000). Financial Activities (+600) and Manufacturing (+200) both added jobs.
Compared to May 2023, nonfarm payroll jobs are up by 18,600. The largest growth occurred in Private Education and Health Services (+6,700), Construction (+4,200), Government (+2,700), and Leisure and Hospitality (+2,600). Jobs in Manufacturing declined by 1,500, mostly in durable goods (-1,300).