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Thursday, November 21, 2024

'Another sign of our booming economy,' Arkansas Gov. declares as unemployment rate falls once again

Mikearneyflickr

Leisure and hospitality was one of the state sector's that saw job growth. | Mike Arney / Flickr

Leisure and hospitality was one of the state sector's that saw job growth. | Mike Arney / Flickr

Unemployment continues to drop as recent reports suggest that the state’s economy continues to recover from the COVID-19 pandemic.

The state’s unemployment rate dropped by 0.3% from September to October, down to 3.7% from 4% with many industry sectors reporting growth, though the number of government jobs declined, according to KUAR.

The state was almost one point ahead of the national unemployment rate for October, which was 4.6%, according to the National Conference of State Legislatures.

Gov. Asa Hutchinson posted on Twitter that the economy was improving and would continue to do so for the foreseeable future.

"The drop in our unemployment rate down to 3.7% is another sign of our booming economy, but the decline in our workforce numbers emphasizes the greatest need for our economy is more workers," he wrote Nov. 19. "Arkansas is leading the national recovery, and I am confident the recent economic development victories in our state will keep us on a fast track."

The news comes after a drop in unemployment in September, a month that showed robust job growth, according to Talk Business & Politics.

"There are 3,412 more employed Arkansans than last month and 45,354 more employed compared to October 2020,” BLS Program Operations Manager Susan Price said in a news release.

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