LITTLE ROCK — According to Little Rock television station KATV, The Arkansas Division of Workforce Services released labor force data showing that Arkansas’ unemployment rate declined to 3.6 percent in the month of December.
The U.S. Department of Labor and Bureau of Labor Statistics produced the labor force data that was released by the Arkansas Division of Workforce Services.
The data shows that Arkansas’ seasonally adjusted unemployment rate declined one-tenth of a percentage point, going from 3.7 percent in November of 2022 to 3.6 percent in December of 2022.
According to a news release, Arkansas’ civilian labor force numbers rose by 263, resulting in 596 more employed and 333 fewer unemployed Arkansans.
“Arkansas’ unemployment rate declined to 3.6 percent in December, as the number of employed in the State grew for the first time since July,” said Susan Price, the BLS Programs Manager, “While the unemployment rate has slowly increased throughout the second half of 2022, there are still 15,873 more employed over the year and the labor force participation rate is up by three-tenths of a percentage point.”
For a better breakdown, Four major industry sectors posted declines, while three sectors added jobs resulting in the decline.
Professional and business services decreased by 1,600, educational and health services declined by 1,500, leisure and hospitality were down by 1,300, and trade, transportation, and utilities added 2,700 jobs.
The sectors that rose were Manufacturing which added 5,000, educational and health services rose by 5,000, and Leisure and hospitality added 4,100. Trade, transportation, and utilities also rose by 3,900, and Financial services increased by 2,700 jobs.