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State unemployment rate rises to 5.9 percent in December Saturday, Jan 19, 2008 Arkansas News Bureau LITTLE ROCK - Arkansas' unemployment rate rose two-tenths of a percentage point to 5.9 percent in December, the highest level since November 2003, labor statistics released Friday showed. The state jobless rate was nine-tenths of a percentage point above the national rate, which rose three-tenths of percentage point last month to 5 percent. Statistics from the state Department of Workforce Services showed Arkansas' civilian labor force grew by 4,200 in December. The number of employed grew by 2,300, while the number of unemployed rose by 1,900. "Although retail trade had a significant increase for the month, six of the 11 major industry sectors showed decreases in December," department spokeswoman Kimberly Friedman said. Nonfarm payroll jobs declined 700 to 1,214,100 in December. The largest drop came in the leisure and hospitality sector, which lost 1,000 jobs due to seasonal fluctuations, the department said. Construction jobs fell by 800, mainly because of seasonal trends and current market conditions. Trade, transportation and utilities had the biggest job increase in December, adding 1,500 positions, due in part to the holiday shopping season. Natural resources mining and financial activities set record highs with increases of 200 jobs and 500 jobs respectively. Arkansas' unemployment rate in December 2007 was up one-half a percentage point from the same month a year earlier. |
