Overall unemployment rate moved up to 2.6% with the biggest shift in Government, which lost 2,000 roles, based on the most recently available information published in March 2023.
Total employment in the Fayetteville-Springdale-Rogers, AR-MO market rose by 7,617 jobs in January and the unemployment rate increased compared to the prior month by 60 bps to 2.6%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- Fayetteville-Springdale-Rogers, AR-MO unemployment rate is 126 bps below the national rate which is a positive sign.
- Unemployment in the market is equal to the unemployment rate in the market last year at this time.
- Average wages (per hour) grew in January versus prior month by 6.5% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.6%. Key sectors include:
- Transportation & Utilities: 64,500; -600
- Business Services: 58,100; +900
- Government: 40,200; -2,000
- Education & Healthcare: 33,800; -100
- Manufacturing: 31,900; no change
- Restaurants & Hotels: 29,300; +300
- Other Jobs: 15,600; -100
- Construction, Mining: 15,100; -200
- Financial Services: 10,200; -100
- IT & Development: 2,400; no change
Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.