The Bureau of Labor Statistics reported today that unemployment rates in Arkansas metro areas were down sharply in April compared to a year earlier. Year-over-year changes ranged from -0.5 percentage points in Little Rock to -1.4 percent in Memphis. Broadly speaking, the metro areas with the highest unemployment rates a year ago have seen the largest declines over the past 12 months.
- Smoothed seasonally adjusted estimates for April showed monthly unemployment-rate declines in every metro area except Hot Springs, where the rate was unchanged. Unemployment was down by 0.2% in Fort Smith, Pine Bluff, and Texarkana. Declines of 0.1% were recorded for Fayetteville, Jonesboro, Little Rock, and Memphis.
As shown in the chart below, the latest data continue to follow a clear trend of improving employment conditions across the state.