LITTLE ROCK, Ark. – The November report from the Arkansas Department of Commerce shows the unemployment rate remains at a record low.
The report shows Arkansas at a 3.3% monthly rate, which it has held since August. The national rate for November is 4.2%, up a tenth of a point since the October report.
Arkansas unemployment rate remains low, holding steady in May report
The report stated the civilian labor force in the Natural State increased by 1,742 in November, with 1,073 more employed in the state. An additional 669 unemployed Arkansans were actively looking for work compared to October. Officials said both the Arkansas civilian labor force and employment remain at record-high levels.
Compared to November 2023, there are 33,715 more employed Arkansans, officials said. The unemployment rate is down four-tenths of a percentage point, with 4,465 fewer unemployed actively looking for work. Arkansas’ labor force participation rate has increased over the year, up six-tenths of a percentage point to 58.2%, a significant increase, according to commerce department officials.
Unemployment rate for Arkansas continues to hold at 3.3% through August
The report showed nonfarm payroll jobs declined by 500 in November. Losses were primarily seasonal, with contractions in leisure, hospitality and construction. The most significant monthly gains occurred in private education and health services, up over 1,700 jobs and the trade-transportation-utilities category, adding more than 1,000 jobs…