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Friday, November 8, 2024

U.S. Bureau of Labor report shows Arkansas' unemployment rate 'continues to be significantly below the national rate'

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The national unemployment rate fell to 5.4%, down from 5.9% in June. | Unsplash/Saulo Mohana

The national unemployment rate fell to 5.4%, down from 5.9% in June. | Unsplash/Saulo Mohana

The U.S. Bureau of Labor Statistics reported that Arkansas’ unemployment rate dipped slightly to 4.3% in July after being stuck at 4.4% for the previous four months.

The labor report also showed that the national unemployment rate fell to 5.4%, down from 5.9% in June, according to the Times Record.

"Our unemployment rate continues to be significantly below the national rate, and the fact that unemployment is now down to 4.3% reflects a growing economy in the state," Gov. Asa Hutchinson said in a statement, according to the Times Record. "The job opportunities are abundant with virtually every employer in Arkansas needing more workers. The challenge is the number of Arkansans who have not returned to the labor force after they lost a job early in the pandemic. There is a constant need to increase the number of workers in order to keep our economy vibrant."

In August, Hutchinson ended the state's participation in the federal unemployment benefits program to encourage unemployed workers to return to the workforce.

"Our Republican-led Legislature’s conservative, fiscally responsible policies continue to grow our economy and create jobs," the Republican Party of Arkansas wrote in an Aug. 26 Facebook post. "New job numbers show Arkansas’ unemployment rate is 4.3%, significantly below the national unemployment rate of 5.4%."

The Arkansas Division of Workforce reported that there are 1,355,630 people in the state's workforce, according to the Times Record.

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