Overall unemployment rate moved up to 2.8% with the biggest shift in Government, which lost 2,700 roles, based on the most recently available information published in August 2022.
Total employment in the Fayetteville-Springdale-Rogers, AR-MO market rose by 1,392 jobs in June and the unemployment rate increased compared to the prior month by 60 bps to 2.8%. The national unemployment rate increased by 46 bps over the same time to 3.8%.
- Fayetteville-Springdale-Rogers, AR-MO unemployment rate is 104 bps below the national rate which is a positive sign.
- Unemployment in the market is 80 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) declined in June versus prior month by -0.6% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.5%. Key sectors include:
- Transportation & Utilities: 62,300; +300
- Business Services: 58,100; -400
- Government: 38,200; -2,700
- Manufacturing: 31,600; -200
- Education & Healthcare: 31,100; +1,500
- Restaurants & Hotels: 27,300; -700
- Construction, Mining: 14,300; +600
- Other Jobs: 10,000; -100
- Financial Services: 9,200; +100
- IT & Development: 2,200; +100
Data is based on the most recent 12 months available, through June 2022 (Data published August 2022 and reports created on August 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.