Natural State News

Arkansas' unemployment rate has been holding steady at 4.4%, which is more than a point below the national average, according to a press release from the Office of Gov. Asa Hutchinson.

“Our 4.4% unemployment rate continues to be significantly below the national rate of 5.9%,” Hutchinson said in the press release. “In fact, the national rate has been moving in the wrong direction. While employers are searching for workers to keep their businesses in operation or to expand, the shortage of workers reflects a hesitancy of some to return to the workforce. This hesitancy should diminish in the coming months as federal stimulus money slows, and our workers transition from training into full employment.”

Hutchinson, a Republican, opted his state out of the extra federal unemployment insurance benefits in an effort to encourage people to get back into the workforce, as previously reported in Natural State News.

The Arkansas Democrat-Gazette reported that the state's general revenue surpassed expectations by 9.4%, or an extra $51.6 million. The paper also reported that July's total revenue is 21.7% less than it was in July 2020, but the state shifted the deadlines for individual income tax filing and payment deadline from April 15 to July 15, 2020, to match the federal government's movement of the deadlines.

All of the state's major categories of revenue came in above their forecast. Individual income tax was almost $28 million higher than expected, and sales tax was $17.4 million above. 

July's net general revenue was $514.9 million, which exceeded the forecast by $39.2 million (8.2%), but is a drop of $141.1 million from July 2020, according to the Arkansas Democrat-Gazette.