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Arkansas' unemployment rate drops to lowest level since 2001 Saturday, Apr 21, 2007 Arkansas News Bureau LITTLE ROCK - Arkansas' unemployment rate fell one-tenth of 1 percent in March to 4.9 percent, labor statistics released Friday showed. The rate is the lowest it has been since October 2001 when it was 4.8 percent. The national unemployment rate also fell one-tenth of a percentage point it March to 4.4 percent. The most current figures from the state Department of Workforce Services show that the number of unemployed Arkansans was 67,500 last month, the lowest level since May 2005, when 67,400 were unemployed. The number of employed Arkansans rose 7,700 in March and now totals 1,317,500. "Employment in the state is at a record level and has increased consistently since the July 2006 total of 1,289,200," department spokeswoman Kimberly Friedman said. Nine of the 11 major nonfarm sectors added jobs. Jobs in the trade, transportation and utilities sector rose by 3,000 in March, with two-thirds of that increase coming from the retail trade category, where preparations began for spring activity, according to the department's report. Leisure and hospitality jobs grew by 2,900, while construction employment increased by 1,700 jobs and professional and business services jobs rose by 1,600, largely because of hiring in the administrative and support services segment. On the year, the biggest employment gain came in the educational and health services sector, which added 3,800 workers. Government jobs also grew since March 2006, adding 3,500 positions, while jobs in trade, transportation and utilities grew by 2,200. Manufacturing employment has fallen by 7,800 over the past year, according to the report, with the largest drop occurring in the electrical equipment industry. |
