Arkansas Economic Development Institute

Maps from AADO Presentation

By , August 31, 2015 8:00 AM

As part of my presentation to the Association of Arkansas Development Organizations (AADO) on August 26, I presented a series of maps showing demographic and economic variables for Arkansas’ 75 counties.  Some general observations about the maps are discussed in a commentary in this week’s Arkansas BusinessFinding Patterns in Counties’ Statistics (Michael Pakko Commentary).

The maps and correlations among variables are available here:  Pakko-August2015-maps.pdf.

The entire set of slides from the presentation is available here:  Pakko-August2015-pdf.

Arkansas Employment and Unemployment – July 2015

By , August 21, 2015 10:34 AM

The unemployment rate in Arkansas declined by 0.1% in July, bringing the rate back down to where it was in March — 5.6%.  The national unemployment rate in July was 5.3%.

Source:  Bureau of Labor Statistics

Source: Bureau of Labor Statistics

Arkansas’ labor force contracted slightly in July as the number of unemployed dropped (-1,300) by more than the increase in the number of employed (+1,000).  July’s small labor force contraction followed 14 consecutive months of increase.

Source:  Bureau of Labor Statistics, Local Area Unemployment Statistics (LAUS)

Source: Bureau of Labor Statistics, Local Area Unemployment Statistics (LAUS)

Payroll Employment
Nonfarm payrolls expanded by 1,200 in July (seasonally adjusted).  Employment in the construction sector showed a particularly sharp increase for the month (+1,800), bringing the 12-month cumulative growth in that sector to 6,800 jobs.  Professional and Business services also showed a robust gain (+1,000).  Several sectors saw job losses in July, including Manufacturing and Wholesale Trade.  Overall, payroll employment over the past 12 months has increased by 28,400 jobs — a growth rate of 2.4%.

Source:  Bureau of Labor Statistics, Current Employment Statistics (CES)

Source: Bureau of Labor Statistics, Current Employment Statistics (CES)

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*Seasonally adjusted data for Arkansas nonfarm payroll employment, reported in a format compatible with the monthly news release from the Arkansas Department of Workforce Services, can be found hereTable-Seasonally Adjusted NFPE.

Arkansas Home Sales – June 2015

By , August 13, 2015 10:37 AM

The Arkansas Realtors® Association announced this morning that home sales in June totaled 3,113, an increase of 15.0% from the previous year, and the highest single-month sales total since May 2007.  The June increase brings the year-to-date total for 2015 to 14,716, 8.5% higher than the January-June total for 2014.

Source:  Arkansas Realtors® Association

Source: Arkansas Realtors® Association

After seasonally adjusting the data and aggregating to quarterly totals, the upward trend over the past three years is clear — shown in the figure below.  The second quarter of 2015 represents the third consecutive quarter for which year-over-year growth rates have exceeded 10%.  The data from the first half of 2015 suggest that home sales are on track to finish the year with an annual increase of nearly 10%, as we forecasted last October.

Source:  Arkansas Realtors® Association; Seasonally adjusted by the Institute for Economic Advancement

Source: Arkansas Realtors® Association; Seasonally adjusted by the Institute for Economic Advancement

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