Overall unemployment rate moved down to 2.0% with the biggest shift in Restaurants & Hotels, which gained 700 roles, based on the most recently available information published in May 2023.
Total employment in the Fayetteville-Springdale-Rogers, AR-MO market rose by 3,839 jobs in March and the unemployment rate decreased compared to the prior month by 10 bps to 2.0%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.
- Fayetteville-Springdale-Rogers, AR-MO unemployment rate is 162 bps below the national rate which is a positive sign.
- Unemployment in the market is 30 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in March versus prior month by 7.4% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.6% . Key sectors include:
- Transportation & Utilities: 64,200; +100
- Business Services: 59,400; +500
- Government: 42,800; +300
- Education & Healthcare: 34,500; +100
- Manufacturing: 31,900; no change
- Restaurants & Hotels: 30,000; +700
- Other Jobs: 15,700; no change
- Construction, Mining: 15,400; +300
- Financial Services: 10,000; -100
- IT & Development: 2,400; no change
Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.