10.27.24 – Talk Business & Politics
Arkansas’ September unemployment rate was 3.3%, unchanged from August but down from 3.6% in September 2023. Net annual job gains of more than 2% were driven by almost 9,000 net new jobs in the Education and Health Services sector.
The number of employed in Arkansas during September was an estimated 1,363,021, up 29,007 jobs, or 2.2%, compared with September 2023, and above the 1,358,680 in August, according to the U.S. Bureau of Labor Statistics (BLS) report posted Tuesday (Oct. 22). The September numbers are preliminary and subject to revision.
Arkansas’ labor force, the number of people eligible to work, in September was 1,408,818, up 1.8% from the 1,383,613 in September 2023, and above the 1,405,421 in August. The state’s labor force participation rate in September was 58.1%, up from 57.6% in September 2023.
Arkansans without jobs in September totaled 45,797, down from the 46,741 in August, and down 7.7% compared with the 49,599 in September 2023.
The biggest year-over-year sector gains were in Education and Health Services (8,800 more jobs), Trade, Transportation and Utilities (4,500 more jobs), and Construction (3,500 more jobs).
NATIONAL NUMBERS
Unemployment rates were higher in September in 5 states, lower in 1 state, and stable in 44 states, according to the BLS report. Twenty-two states and the District had jobless rate increases from a year earlier, 6 states had decreases, and 22 states had little change. The national unemployment rate changed little over the month at 4.1% but was 0.3 percentage point higher than in September 2023.
South Dakota had the lowest jobless rate in September at 2%, followed by Vermont at 2.2%, and North Dakota at 2.3%. The District of Columbia had the highest rate at 5.7%, followed by Nevada at 5.6%. In total, 23 states had unemployment rates lower than the U.S. figure of 4.1%, 4 states and the District had higher rates, and 23 states had rates that were not appreciably different from that of the nation.
Over the year, nonfarm payroll employment increased in 30 states and was essentially unchanged in 20 states. The largest job gains occurred in Texas (+327,400), California (+265,300), and Florida (+204,700). The largest percentage increases occurred in Idaho and Montana (3.4% each), followed by South Carolina (3.3%).
JOB SECTOR NUMBERS
Trade, Transportation, and Utilities
September 2024: 271,000
August 2024: 270,000
September 2023: 266,500
September marked a new employment record for the sector.
Government
September 2024: 212,900
August 2024: 212,800
September 2023: 211,400
Sector employment hit a peak of 224,100 in May 2010.
Education and Health Services
September 2024: 217,900
August 2024: 217,800
September 2023: 209,100
September marked an employment record for the sector.
Manufacturing
September 2024: 162,700
August 2024: 162,700
September 2023: 162,800
Manufacturing, once the state’s largest jobs sector, posted record employment of 247,600 in February 1995.
Professional and Business Services
September 2024: 158,600
August 2024: 160,400
September 2023: 156,400
June marked an employment record for the sector with 160,900 jobs.
Leisure and Hospitality
September 2024: 129,000
August 2024: 125,600
September 2023: 127,200
March marked an employment record for the sector with 130,200 jobs.
Financial Activities
September 2024: 69,600
August 2024: 71,900
September 2023: 70,600
July first marked an employment record for the sector at 71,900.
Construction
September 2024: 66,100
August 2024: 66,700
September 2023: 63,600
February first marked an employment record for the sector with 68,000 jobs.