Arkansas Economic Development Institute

Arkansas Employment and Unemployment – October 2015

By , November 20, 2015 1:59 PM

The Arkansas unemployment rate dropped one-tenth of a percent in October, to 5.1%.  The number of unemployed declined by nearly 1,300, while the number of employed increased by 1,200.  After a brief rise in unemployment in the Spring, we’ve seen employment increase by 9,000 from May to October, while unemployment has fallen by 8,400 over the same period.

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

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

Nonfarm Payrolls
Payroll employment declined slightly (-200) from September to October (seasonally adjusted).  Sectors gaining jobs for the month included Manufacturing, Retail Trade, Professional & Business Services, and Other Services.  Leisure & Hospitality Services  and Government declined.

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

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

Compared to one year ago, Arkansas payroll employment is up 19,400.   A surge in Construction employment (+8,200)  accounts for much of that total increase, but other contributors include the rapidly growing service-providing sectors of Professional & Business Services, Education & Health Services, and Leisure & Hospitality Services.  Compared to it’s pre-recession level (December 2007), total payroll employment in Arkansas is up by 7,200 jobs (+0.6%).

Source:  Bureau of Labor Statistics

Source: Bureau of Labor Statistics

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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.

 

Economic Briefing/Forecast Conference

By , November 5, 2015 12:59 PM

Thank you to all the participants and attendees for this morning’s Economic Briefing, co-sponsored by the Institute for Economic Advancement and the Little Rock Branch of the Federal Reserve Bank of St. Louis.

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The links below contain copies of the presentation slides.

Kevin Kliesen’s  National Economic Outlook and  Charles Gascon’s analysis of  young adults living with their parents is available in a combined file:  LittleRock_REB_combined.pdf

Michael Pakko’s presentation of current economic conditions in Arkansas and forecasts for 2016 and 2017 is available here:  Pakko-Slides-2015.pdf

Greg Hamilton’s Update of the Little Rock Region Report card can be found here:  Little Rock Report Card

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