FOR IMMEDIATE RELEASE
Arkansas Has Second-Fastest Growth Rate in Nonfarm Employment, Bureau of Labor Statistic Reports
LITTLE ROCK – Arkansas had the second-highest percentage increase in nonfarm employment in July, which indicates that “Arkansas is clearly on the right track,” Governor Hutchinson said Thursday in response to a report by the U.S. Department of Labor and the Bureau of Labor Statistics.
Participation in Arkansas’ work force grew by 2.7 percent, an increase second only to Oregon’s 2.9 percent growth, according to the report.
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“It is great to see that our state’s labor force is among the fastest growing in the country,” said Governor Hutchinson.
“Over the past 3 years, Arkansas’ unemployment rate has fallen from 5.6 percent to a record low 3.4 percent. This is just another indication that our economy is growing. More people are working, more businesses are expanding and more employers are hiring than when I took office in 2015. Arkansas is clearly on the right track, and we will work every day to continue to grow our economy and improve the quality of life in Arkansas.”
Over recent months, Arkansas’ unemployment rate has fallen to an all-time low of 3.4 percent, nearly a full percentage point below the national average of 4.3 percent. When adjusted to account for seasonal employment, the state has added 63,400 new jobs since Governor Hutchinson took office in 2015. When not adjusted for seasonal employment, the number of new jobs is 121,205. The state’s per capita income also increased 4.7 percent in that same period.
Seasonal adjustment is a statistical technique to measure changes in employment from month to month that is intended to eliminate predictable fluctuations resulting from seasonal influences including school schedules, harvests, holidays, changes in weather and other temporary factors.
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