Overall unemployment rate moved down to 3.1% with the biggest shift in Government, which gained 300 roles, based on the most recently available information published in December 2022.
Total employment in the Fort Smith, AR-OK market rose by 818 jobs in October and the unemployment rate decreased compared to the prior month by 50 bps to 3.1%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Fort Smith, AR-OK unemployment rate is 30 bps below the national rate which is a positive sign.
- Unemployment in the market is 40 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in October versus prior month by 6.8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.3% . Key sectors include:
- Transportation & Utilities: 24,300; +100
- Manufacturing: 18,300; -100
- Government: 18,100; +300
- Education & Healthcare: 17,100; no change
- Business Services: 11,400; +100
- Restaurants & Hotels: 10,100; -100
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.