Overall unemployment rate moved up to 2.6% with the biggest shift in Government, which lost 1,700 roles, based on the most recently available information published in March 2022.
Total employment in the Fayetteville-Springdale-Rogers, AR-MO market declined by 12,989 jobs in January and the unemployment rate increased compared to the prior month by 100 bps to 2.6%. The national unemployment rate increased by 74 bps over the same time to 4.4%.
- Fayetteville-Springdale-Rogers, AR-MO unemployment rate is 183 bps below the national rate which is a positive sign.
- Unemployment in the market is 110 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 7.8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.5%. Key sectors include:
- Transportation & Utilities: 60,700; -1,200
- Business Services: 55,400; +200
- Government: 38,600; -1,700
- Manufacturing: 31,600; +400
- Education & Healthcare: 30,600; -500
- Restaurants & Hotels: 25,800; -1,000
- Construction, Mining: 13,600; -400
- Other Jobs: 9,700; -100
- Financial Services: 9,000; +100
- IT & Development: 2,100; no change
Data is based on the most recent 12 months available, through January 2022 (Data published March 2022 and reports created on March 18, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.