Overall unemployment rate moved up to 1.6% with the biggest shift in Restaurants & Hotels, which lost 900 roles, based on the most recently available information published in February 2022.
Total employment in the Fayetteville-Springdale-Rogers, AR-MO market declined by 965 jobs in December and the unemployment rate increased compared to the prior month by 10 bps to 1.6%. The national unemployment rate decreased by 20 bps over the same time to 3.7%.
- Fayetteville-Springdale-Rogers, AR-MO unemployment rate is 209 bps below the national rate which is a positive sign.
- Unemployment in the market is 190 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in December versus prior month by 5.9% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.4%. Key sectors include:
- Transportation & Utilities: 62,300; +700
- Business Services: 57,000; +200
- Government: 40,300; -500
- Education & Healthcare: 31,400; -400
- Manufacturing: 31,400; +100
- Restaurants & Hotels: 26,800; -900
- Construction, Mining: 14,000; -200
- Other Jobs: 10,200; +100
- Financial Services: 8,600; -300
- IT & Development: 2,200; no change
Data is based on the most recent 12 months available, through December 2021 (Data published February 2022 and reports created on February 4, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.