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State's jobless rate drops slightly to 5.3 percent Thursday, Sep 21, 2006 By Rob Moritz Arkansas News Bureau LITTLE ROCK - Arkansas' unemployment rate in August dropped one-tenth of a percentage point to 5.3 percent, the monthly state labor report released Wednesday showed. The national unemployment rate stood at 4.7 percent last month, down one-tenth of a percentage point from its rate in July. Total employment in Arkansas rose by 1,500 in August to 1,310,900, while the number of unemployed in the state dropped 1,300 to 72,000, according to the Department of Workforce Services. "The increase in employment combined with the decrease in the number of unemployed Arkansans resulted in a drop in the unemployment rate," said DWS spokeswoman Kimberly Friedman. A year ago, Arkansas' unemployment rate was 5.1 percent. Wednesday's labor report showed Arkansas' nonfarm employment rose 7,500 between July and August. Six of the 11 major sectors also experienced increases, with government sector leading the way with a gain of 1,900 jobs on the state level and 2,500 on the local level. Professional and business services had a gain of 1,800 jobs. Some of the declines were in manufacturing employment, which, along with durable goods, dropped 300 each. Repair and maintenance services dropped by 200 jobs. The August unemployment for minorities dropped two-tenths of a percentage point to 9.9 percent. The jobless rate for whites dropped one-tenth of a percentage point to 4.3 percent, while the youth unemployment rate was estimated at 17.2 percent. The jobless rate for minority youth was 27.2 percent, while the unemployment rate for white youth was 16.3 percent. |
