Arkansas jobless rate remains at record low level

Little Rock, Arkansas – Despite more than 5,200 job gains since February, Arkansas’ jobless rate was unchanged at 3.1% in March, and the broad Trade, Transportation, and Utilities sector accounted for almost 45% of the year-over-year job gains in the March report.

According to the U.S. Bureau of Labor Statistics report posted Friday, during March, the number of employed in Arkansas was an estimated 1,302,465, up 31,600 jobs compared with March 2021, and above the 1,297,210 in February. The March numbers are preliminary and subject to revision. The jobless rate in March 2021 was 4.6%.

Arkansas’ labor force, the number of people eligible to work, in March was 1,343,907 in March, above the 1,332,788 in March 2021, and above the 1,339,399 in February. However, the labor force has 42,074 fewer participants than the pre-pandemic March 2020. The state’s labor force participation rate was 56.6% in March, below the 56.7% in March 2021, and also below the pre-pandemic 59.3% in March 2020.

Arkansans without jobs in March totaled 41,442, down from 42,189 in February, and well below the 61,923 in March 2021. The biggest year-over-year sector gains were in Trade, Transportation & Utilities (14,000 more jobs), and Leisure & Hospitality (up 10,100 jobs).