Overall unemployment rate moved up to 2.2% with the biggest shift in Business Services, which lost 200 roles, based on the most recently available information published in February 2022.
Total employment in the Fort Smith, AR-OK market declined by 736 jobs in December and the unemployment rate increased compared to the prior month by 10 bps to 2.2%. The national unemployment rate decreased by 20 bps over the same time to 3.7%.
- Fort Smith, AR-OK unemployment rate is 149 bps below the national rate which is a positive sign.
- Unemployment in the market is 240 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 7.6% and are equal compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.5%. Key sectors include:
- Transportation & Utilities: 24,800; +200
- Government: 17,800; -200
- Manufacturing: 17,100; no change
- Education & Healthcare: 16,700; -200
- Business Services: 12,600; -200
- Restaurants & Hotels: 9,000; -200
- Construction, Mining: 5,600; no change
- Other Jobs: 4,700; no change
- Financial Services: 3,800; no change
- IT & Development: 1,100; 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.