Overall unemployment rate moved down to 2.8% with the biggest shift in Business Services, which lost 200 roles, based on the most recently available information published in May 2023.
Total employment in the Fort Smith, AR-OK market rose by 737 jobs in March and the unemployment rate decreased compared to the prior month by 20 bps to 2.8%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.
- Fort Smith, AR-OK unemployment rate is 82 bps below the national rate which is a positive 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 March versus prior month by 2.1% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.1%. Key sectors include:
- Transportation & Utilities: 24,600; -100
- Manufacturing: 18,600; -100
- Government: 18,200; no change
- Education & Healthcare: 18,000; no change
- Business Services: 11,200; -200
- Restaurants & Hotels: 9,900; +200
- Construction, Mining: 5,300; no change
- Financial Services: 4,100; no change
- Other Jobs: 3,600; +100
- IT & Development: 1,400; no change
Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.