Overall unemployment rate stayed flat at 3.8% with the biggest shift in Government, which lost 1,900 roles, based on the most recently available information published in August 2022.
Total employment in the Fort Smith, AR-OK market declined by 157 jobs in July and the unemployment rate stayed flat. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Fort Smith, AR-OK unemployment rate is 2 bps above the national rate which is a negative sign.
- Unemployment in the market is 40 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in July versus prior month by 11.4% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.2%. Key sectors include:
- Transportation & Utilities: 24,300; +200
- Manufacturing: 18,400; +100
- Education & Healthcare: 17,000; +400
- Government: 15,400; -1,900
- Business Services: 11,400; -300
- Restaurants & Hotels: 10,300; +200
- Construction, Mining: 5,300; no change
- Other Jobs: 4,300; no change
- Financial Services: 3,900; no change
- IT & Development: 1,200; no change
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.