Overall unemployment rate moved up to 3.6% with the biggest shift in Government, which gained 300 roles, based on the most recently available information published in April 2022.
Total employment in the Fort Smith, AR-OK market rose by 1,488 jobs in February and the unemployment rate increased compared to the prior month by 10 bps to 3.6%. The national unemployment rate decreased by 28 bps over the same time to 4.1%.
- Fort Smith, AR-OK unemployment rate is 54 bps below the national rate which is a positive sign.
- Unemployment in the market is 200 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 13.9% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.9% . Key sectors include:
- Transportation & Utilities: 24,200; +200
- Manufacturing: 18,000; +200
- Government: 17,800; +300
- Education & Healthcare: 16,600; +300
- Business Services: 11,500; -100
- Restaurants & Hotels: 9,200; +100
- Construction, Mining: 5,000; +100
- Other Jobs: 4,200; no change
- Financial Services: 3,800; no change
- IT & Development: 1,100; -100
Data is based on the most recent 12 months available, through February 2022 (Data published April 2022 and reports created on April 6, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.