Employment Snapshot - Fort Smith, AR-OK April-2023

Weller Emmons

VP of Analytics and Finance at Mployer Advisor. He is passionate about leveraging data to provide industry leading insights for Mployer Advisor’s clients. Prior to joining Mployer Advisor, Emmons served as a healthcare provider strategy consultant for Knowledge Capital Group and as an internal strategy consultant at HCA Healthcare. Emmons earned his MBA and BE in Biomedical Engineering, both from Vanderbilt University.

Market Employment Summary

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Additional Benchmarking Resources

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Overall unemployment rate moved down to 2.4% with the biggest shift in Restaurants & Hotels, which gained 400 roles, based on the most recently available information published in June 2023.

Total employment in the Fort Smith, AR-OK market rose by 1,079 jobs in April and the unemployment rate decreased compared to the prior month by 40 bps to 2.4%. The national unemployment rate decreased by 53 bps over the same time to 3.1%.

Fort Smith, AR-OK unemployment rate is 70 bps below the national rate which is a positive sign.
Unemployment in the market is 50 bps below the unemployment rate in the market last year at this time, which is a positive.
Average wages (per hour) grew in April versus prior month by 3% and are down compared to last year at this time in the market.

Month over Month Unemployment Change

Year over Year Unemployment Change

Fort Smith, AR-OK Unemployment April 2023

For key employment segments of the market, total jobs grew by 1.0% . Key sectors include:

Transportation & Utilities: 24,500; -100
Manufacturing: 18,700; +100
Government: 18,300; +100
Education & Healthcare: 18,100; +100
Business Services: 11,400; +200
Restaurants & Hotels: 10,300; +400
Construction, Mining: 5,500; +200
Financial Services: 4,200; +100
Other Jobs: 3,600; no change
IT & Development: 1,400; no change

Employment Change by Key Sector

Fort Smith, AR-OK Unemployment by Industry April 2023

Data is based on the most recent 12 months available, through April 2023 (Data published June 2023 and reports created on June 8,2023). Source: Government data agency and locally acquired statistics.

Note: All reported data is not seasonally adjusted.

Fort Smith, AR-OK