From Talk Business & Politics:
Despite big job gains in Arkansas’ tourism and construction sectors, the state’s jobless rate in November rose to 3.3% from 3.1% in October. The rate was below the 3.5% in November 2022. The estimated number of Arkansans without jobs rose 6.3%.
The number of employed in Arkansas during November was an estimated 1,347,648, up 23,100 jobs, or 1.74%, compared with November 2022, and below the 1,350,585 in October, according to the U.S. Bureau of Labor Statistics report posted Friday (Dec. 22). The November numbers are preliminary and subject to revision.
Arkansas’ labor force, the number of people eligible to work, in November was 1,392,927, up 1.5% from the 1,372,224 in November 2022, but below the 1,393,178 in October.
Arkansans without jobs in November totaled 45,279, 6.3% above the 42,593 in October, and down 5% compared with the 47,676 in November 2022.
The biggest year-over-year sector gains were in Construction (7,000 more jobs), Education and Health Services (6,700) and Leisure and Hospitality (6,300). November saw record employment in the Construction sector.
NATIONAL NUMBERS
Unemployment rates were higher in November in 12 states and stable in 38 states. Twenty states had jobless rate decreases from a year earlier, 15 states had increases, and 15 states had little change. The U.S. unemployment rate was 3.7%, up from 3.6% in November 2022.
Maryland had the lowest jobless rate in November at 1.8%. The next lowest rate was in North Dakota at 1.9%. Nevada had the highest unemployment rate at 5.4%. In total, 19 states had unemployment rates lower than the U.S. figure of 3.7%, 5 states had higher rates, and 26 states had rates that were not appreciably different from that of the nation.
JOB SECTOR NUMBERS
Trade, Transportation, and Utilities
November 2023: 269,300
October 2023: 270,100
November 2022: 274,300
February marked an employment record for the sector with 276,500 jobs.
Government
November 2023: 209,800
October 2023: 210,600
November 2022: 208,400
Sector employment hit a peak of 224,100 in July 2010.
Education and Health Services
November 2023: 208,900
October 2023: 208,400
November 2022: 202,200
September marked an employment record for the sector with 209,200 jobs.
Manufacturing
November 2023: 160,900
October 2023: 161,700
November 2022: 163,300
Manufacturing, once the state’s largest jobs sector, posted record employment of 247,600 in February 1995.
Professional and Business Services
November 2023: 149,600
October 2023: 151,400
November 2022: 151,700
September 2022 marked an employment record for the sector with 156,300 jobs.
Leisure and Hospitality
November 2023: 132,000
October 2023: 130,700
November 2022: 125,700
August marked a new employment record for the sector with 133,400 jobs.
Financial Activities
November 2023: 71,600
October 2023: 70,700
November 2022: 70,700
November marked a new employment record for the sector.
Construction
November 2023: 65,200
October 2023: 65,500
November 2022: 58,200
October marked a new employment record for the sector.
