Employment Snapshot - Fort Smith, AR-OK February-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 3.0% with the biggest shift in Government, which gained 500 roles, based on the most recently available information published in April 2023.

Total employment in the Fort Smith, AR-OK market rose by 1,451 jobs in February and the unemployment rate decreased compared to the prior month by 50 bps to 3.0%. The national unemployment rate increased by 3 bps over the same time to 3.9%.

Fort Smith, AR-OK unemployment rate is 89 bps below the national rate which is a positive sign.
Unemployment in the market is 60 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 4.9% 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 February 2023

For key employment segments of the market, total jobs grew by 0.6% . Key sectors include:

Transportation & Utilities: 24,700; -100
Manufacturing: 18,700; +100
Government: 18,200; +500
Education & Healthcare: 18,000; +100
Business Services: 11,400; no change
Restaurants & Hotels: 9,700; +200
Construction, Mining: 5,300; no change
Financial Services: 4,100; -100
Other Jobs: 3,500; no change
IT & Development: 1,400; no change

Employment Change by Key Sector

Fort Smith, AR-OK Unemployment by Industry February 2023

Data is based on the most recent 12 months available, through February 2023 (Data published April 2023 and reports created on April 10, 2023). Source: Government data agency and locally acquired statistics.

Note: All reported data is not seasonally adjusted.

Fort Smith, AR-OK