Overall unemployment rate moved down to 2.1% with the biggest shift in Government, which gained 2,300 roles, based on the most recently available information published in April 2023.
Total employment in the Fayetteville-Springdale-Rogers, AR-MO market rose by 6,170 jobs in February and the unemployment rate decreased compared to the prior month by 50 bps to 2.1%. The national unemployment rate increased by 3 bps over the same time to 3.9%.
- Fayetteville-Springdale-Rogers, AR-MO unemployment rate is 179 bps below the national rate which is a positive sign.
- Unemployment in the market is 50 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 6.4% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.9% . Key sectors include:
- Transportation & Utilities: 64,000; -500
- Business Services: 58,800; +600
- Government: 42,500; +2,300
- Education & Healthcare: 34,400; +400
- Manufacturing: 32,000; +100
- Restaurants & Hotels: 29,300; -100
- Other Jobs: 15,700; +100
- Construction, Mining: 15,100; -100
- Financial Services: 10,000; -200
- IT & Development: 2,400; no change
Data is based on the most recent 12 months available, through February 2023 (Data published April 2023 and reports created on April 10, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.