Arkansas’ unemployment rate was steady at 3.5% in October. As previously reported, the national unemployment rate ticked up one-tenth of a percent to 3.6% for the month. Underlying statistics from the household survey showed that the number of employed increased by 937 and the number of unemployed rose by 689. As a result, the labor force increased by 1,626.
Nonfarm payroll employment rose by 2,500 in October (seasonally adjusted). Compared to a year earlier, payrolls were up by 17,900 – a 1.4% growth rate. October’s employment increase was dominated by goods producing sectors. Manufacturing employment was up by 1,900 and construction was up 300. Service-providing sectors added just 500 net jobs in October. The largest gains were in Professional and Business Services, up by 1,100. Slight declines were registered in Retail Trade, Financial Services, Education & Health Services, and Government.
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Seasonally adjusted data for Arkansas nonfarm payroll employment, reported in a format consistent with the monthly news release from the Arkansas Department of Workforce Services, can be found here: Table-Seasonally Adjusted NFPE.