Arkansas is pacing well ahead of the rest of the nation in unemployment rates and other key economic indicators. | Canva
Arkansas is pacing well ahead of the rest of the nation in unemployment rates and other key economic indicators. | Canva
Signs of economic recovery in Arkansas continue to pop up as the state unemployment rate falls to full point below the national average, according to a release from the Arkansas Division of Workforce Services. Arkansas has experienced an economic recovery that is better than average following a damaging several months during the coronavirus pandemic.
The unemployment rate in Arkansas dipped again in August to 4.2%, down from 4.3% in July, Talk Business & Politics reported. In August 2020, the unemployment rate in Arkansas was 6.5%. Leisure and hospitality, a crucial sector in the state, had 113,300 jobs in August which was an increase of 7.9% from August 2020.
Gov. Asa Hutchinson told CNN in April 2020 that he did not believe that lockdowns were necessary for Arkansas due to its low density population. While he commented on how other states may need to take other measures , he resisted the idea that Arkansas needed its residents to isolate on a broad scale.
“At 4.2%, Arkansas’ unemployment rate declined for the second consecutive month. There are 3,412 more employed Arkansans than last month and 45,354 more employed compared to August 2020,” Arkansas Bureau of Labor Statistics Programs Manager Susan Price said in the release.
Arkansas ended participation in the federal pandemic unemployment compensation program at the end of June. State Secretary of Commerce Mike Preston said that companies started seeing more job applications when the benefits ended, Natural State News reported.
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