Overall unemployment rate moved down to 2.0% with the biggest shift in Business Services, which gained 1,600 roles, based on the most recently available information published in December 2022.
Total employment in the Fayetteville-Springdale-Rogers, AR-MO market rose by 3,462 jobs in October and the unemployment rate decreased compared to the prior month by 60 bps to 2.0%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Fayetteville-Springdale-Rogers, AR-MO unemployment rate is 140 bps below the national rate which is a positive sign.
- Unemployment in the market is 10 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in October versus prior month by 4.7% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.1% . Key sectors include:
- Transportation & Utilities: 62,400; +1,000
- Business Services: 60,900; +1,600
- Government: 42,300; +900
- Manufacturing: 32,600; +100
- Education & Healthcare: 30,600; -700
- Restaurants & Hotels: 26,700; -100
- Construction, Mining: 14,600; +200
- Other Jobs: 10,200; +100
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.