No one can deny it's been a tough year economically, and this week, we learned of more layoffs Arkansans must endure. Navistar, which has made school buses in Conway for decades, announced that it will close its Faulkner County plant, affecting almost 500 employees. Paper-product manufacturer Georgia-Pacific also announced layoffs. Businesses, large and small, are suffering, and thousands of Arkansans have lost their jobs. Last month, we had to trim the State's budget by $100 million due to an unanticipated reduction in revenue. Arkansas state government must work to live within its means, just like any responsible family or business.

However, even in the face of these challenges, there is good news for Arkansas -- news that is spreading across our country and around the globe. A recent federal report shows that per-capita personal income in Arkansas has risen again, both in real dollars and in comparison to other states. For the first time in 50 years, we've moved up to 46th in the nation. We passed Kentucky one year after passing Utah and are now within less than $300 of South Carolina. Ranking 46th is not good enough, but it is progress in an important category that is one of the most difficult statistics to change. This accomplishment is not an endpoint, but it is a step up the ladder of economic prosperity.

Progress takes time. But this news reinforces in concrete terms that during a period of global recession, there are elements of Arkansas's economy that are getting better, not worse. Arkansans as a whole are earning more money. Higher incomes help establish the foundation we need for our economic and educational future.

As we weather this recession, Arkansas is becoming nationally known as a stable, resilient place to live, work, and do business. Business Week magazine recently named Central Arkansas the fourth strongest economy in the United States. Demonstrating the diversity of outstanding areas to locate in Arkansas, CNN Money recognized Northwest Arkansas as one of the best places in America to start a small business.

We already know about the region's natural beauty, cultural and athletic offerings and that it's home to two Fortune 500 companies, Tyson and Wal-Mart. But for the national media to acknowledge the area's strengths by ranking Northwest Arkansas as 13th among midsize metros and 23rd among all metros, means the State is gaining the national reputation we need to continue to recruit more businesses and jobs for our people.

While unemployment is a cruel burden for too many of our citizens, our unemployment rate remains lower than the rest of the country's. In September, we were at 7.1 % when the national rate was nearing 10%. The influx and smart application of stimulus money in Arkansas has led to more than 2,600 jobs being saved or created this year.

I report all these positive signs knowing that hundreds of Arkansans have lost their jobs, are searching for work, or are working low-wage jobs to feed their families. The fact that Arkansas is doing better than most other states is of little consolation to those who are struggling. But we still welcome these pieces of good news, and I believe they should give us all hope. We are working to ensure that Arkansas emerges from this downturn prepared to take advantage of the opportunities coming our way. How we handle ourselves during the tough times will prepare us to excel in better times.