Metro Area Employment and Unemployment – May 2019

By , July 3, 2019 12:38 PM

Unemployment rates in Arkansas metro areas continued to drift lower in May.  From April to May, unemployment rates declined in six of Arkansas’ eight metro areas, with declines of 0.2% in Hot Springs and Texarkana.  Over the past three months, unemployment rates have declined in all metro areas except Memphis.

Source: Bureau of Labor Statistics, Smoothed Seasonally Adjusted Metropolitan Area Estimates

Source: Bureau of Labor Statistics, Smoothed Seasonally Adjusted Metropolitan Area Estimates

As shown in the figure below, recent declines have partly reflected a reversal of rate increases earlier in the year.  Nevertheless, unemployment remain are now at record lows in Fayetteville, Fort Smith, Hot Springs, Jonesboro, and Little Rock.

Source: Bureau of Labor Statistics, Smoothed Seasonally Adjusted Metropolitan Area Estimates

Source: Bureau of Labor Statistics, Smoothed Seasonally Adjusted Metropolitan Area Estimates

Payroll Employment
Monthly changes in nonfarm payroll employment were mixed in May.  At the extremes, employment was up 0.6% in Fort Smith and down 0.6% in Pine Bluff.  Smaller increases were reported for Jonesboro, Little Rock, and Texarkana.  Northwest Arkansas, where trend employment growth has been far more rapid than the rest of the state, experienced an uncharacteristic decline of 0.2% in May.  Over the past year, payroll employment growth has exceeded 1.0 percent in six of the state’s metro areas.  In Fort Smith, net employment growth has been zero, while it is down 0.6% in Pine Bluff.    A similar pattern holds for longer-term trends as well: Since the current period of employment expansion began at the end of 2013, the only metro area that has continued to see negative job growth has been Pine Bluff.

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

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

Print Friendly, PDF & Email

Leave a Reply

You must be logged in to post a comment.

Panorama Theme by Themocracy

AWSOM Powered