Arkansas’ November labor report show a positive trend in terms of labor force growth and shows a gain of almost 12,000 jobs compared to November 2013. The report included a significant decline in the number of unemployed, and a year-over-year gain of 5,300 jobs in the state’s manufacturing sector.
Arkansas’ November jobless rate fell to 5.8% compared to 7.5% in November 2013, and down from a revised 6.1% in October, according to figures released Friday (Dec. 19) by the U.S. Bureau of Labor Statistics, are subject to revision. The November numbers are subject to revision.
Arkansas’ annual average jobless rate fell from 7.9% during 2011 to a revised 7.5% during 2012. The initial annual average jobless rate for Arkansas during 2013 is 7.5%.
The size of the workforce – 1.315 million – fell by 0.81% compared to November 2013, but was better than the 1.307 million in October. The peak for Arkansas’ labor force was 1.367 million in May 2008.
The number of employed in Arkansas during November was 1.238 million, above October employment of 1.228 million, and up an estimated 11,844 jobs compared to November 2013. The number of unemployed was an estimated 76,920 during November, below the 79,102 in October, and well below the 99,546 in November 2013.
The closely watched nonfarm payroll number was 1.201 million in November, the first time the category has topped 1.2 million since September 2008. The nonfarm category does not include farm workers, private household employees, non-profit employees and “general government” employees. Investopedia estimates that the nonfarm category represents about 80% of the total workforce that contributes to national GDP.
Nonfarm payroll during November was better than the 1.194 million in October and up over the 1.181 million in November 2013. Nonfarm jobs reached a high in Arkansas of 1,209,800 in February 2008.
ARKANSAS SECTOR NUMBERS
In the Trade, Transportation and Utilities sector — Arkansas’ largest job sector — employment during November was an estimated 244,900, up from 242,900 in October and ahead of the 243,400 during November 2013. Employment in the sector hit a high of 251,800 in March 2007.
Manufacturing jobs in Arkansas during November totaled 157,100, up from 155,800 in October and above the 151,800 in November 2013. Employment in the manufacturing sector fell in 2013 to levels not seen since early 1968. Peak employment in the sector was 247,300 in February 1995.
Government job employment during November was 215,400, up from 214,600 in October and below the 215,700 during November 2013.
The state’s Education and Health Services sector during November had 177,100 jobs, up from 176,500 during October and up from 173,400 during November 2013. Employment in the sector is up 22.8% compared to November 2004.
The construction sector employed an estimated 50,200 in November, up from 48,800 in October and above the 46,300 in November 2013. November was the first time the sector was above 50,000 since June 2010. The sector is off the employment high of 57,600 reached in March 2007.
Arkansas’ tourism sector (leisure & hospitality) employed 109,400 during November, up from 109,200 during October, and above the 106,600 during November 2013. The November number, if it stands, marks a new record for employment in the sector.