Arkansas Quick Stats.

The Arkansas unemployment rate for March 2001 was 4.1 percent, equal to the unemployment rate for the month of December. This is below the national rate of 4.3 percent for the month. Benton County again posted the lowest unemployment rate, 1.7 percent. Mississippi County, one of four counties with unemployment of 10 percent or more had the greatest unemployment rate in the state, 12.6 percent. Arkansas counties with the greatest unemployment rates in March 2001 are concentrated in the delta region. At the MSA level, the Fayetteville-Springdale-Rogers MSA had the lowest rate, 1.8 percent, while the Pine Bluff MSA had the greatest, 7.6 percent, a full percent above the rate posted in December. In general, this data indicates a continued softening of the local economy, but not to an equivalent level as that of the nation as a whole.

Year-on-year employment continued to edge up, rising 3.4 percent from March 2000 to March 2001. Roughly 1,212,600 Arkansans held employment at the end of March 2001, compared with 1,172,500 in March of 2000. The Fayetteville-Springdale-Rogers MSA realized the greatest growth in employment over the period, 5.3 percent. The Pine Bluff MSA experienced the smallest rate of employment growth for the period, 1.7 percent. At the county level, Sevier County had the greatest year-on-year increase, 10.5 percent. The county with the greatest decline in percentage change terms was Cleveland County,-2.2 percent. Statewide employment grew at 5.6 times the national average of 0.6 percent (3.4 percent).

In nominal dollars, fourth quarter personal income fell 1.9 percent in Arkansas. This compares unfavorably to the U.S. average that grew by 1.5 percent. In constant dollars, the decline in Arkansas personal income relative to the national average is relatively similar, declining 2.4 percent as compared to an increase of 1.0 percent.

Wage and salary employment in manufacturing continues to wane. Since reaching a 24-month high in January of 2000, the number of Arkansans employed in the manufacturing sector has declined by 10,000. So, while overall employment numbers show more Arkansans employed at present than at any point in the last 2 years, fewer are employed in manufacturing than at any point during the period. In addition to a decline in absolute employment, average weekly hours worked also continue to slide, from a 12 month high of 41.7 hours in October of last year, to 39.0 hours in April of this year, the last month for which data are available. Finally, average weekly earnings in manufacturing also show weakness, declining from $501.1 in October of 2000 to $479.6 in April of 2001.

Finally, inflation remains tame, with the Consumer Price Index rising a modest 2.9 percent from March 2000 to March 2001. The Producer Price Index rose 3.1 percent for the same period. Given the modest increase in prices and slowing economic growth across the nation, the Federal Reserve continued to reduce the discount rate from 6 percent at the start of the year to 3.5 percent. At this time the economic data shows mixed signals, with most analysts taking a wait and see attitude before predicting future Fed moves. Finally, seasonally adjusted retail sales numbers from the U.S. Bureau of the Census suggest increasing economic activity as March sales rebound from the decline in February. Also nationally, the Conference Board's Consumer Confidence Index, which had declined in April, rebounded in May (May 115.5 versus April 109.9). This, coupled with rebounding stock markets suggests increased spending and subsequent economic activity may be on the horizon as consumers once again exercise their pocketbooks.

 
Arkansas Labor Force Estimates 
March 2001 
                                     Total Employment 
                                           March 2001   March 2000 
United States 1                           135,780,000  135,013,000 
State of Arkansas 1                         1,212,600    1,172,500 
Fayetteville-Springdale-                      149,650      142,175 
Rogers MSA 2 
Fort Smith MSA 2                               95,950       92,800 
Jonesboro MSA 2                                42,125       40,725 
Little Rock-North Little Rock MSA 2           295,325      286,525 
Pine Bluff MSA 2                               33,775       33,225 
                                     Percent Change   March 2001 
                                     March 2000 to   Unemployment 
                                       March 2001      Rate (%) 
United States 1                           0.6%           4.3 
State of Arkansas 1                       3.4%           4.1 
Fayetteville-Springdale-                  5.3%           1.8 
Rogers MSA 2 
Fort Smith MSA 2                          3.4%           4.5 
Jonesboro MSA 2                           3.4%           3.6 
Little Rock-North Little Rock MSA 2       3.1%           3.1 
Pine Bluff MSA 2                          1.7%           7.6 
                                           Percent 
              Total Employment              Change    March 2001 
                         March    March  3/2000 to  Unemployment 
County 2                  2001     2000     3/2001      Rate (%) 
Arkansas                10,000    9,525       5.0%           4.1 
Ashley                   9,825    9,750       0.8%           8.5 
Baxter                  14,200   13,775       3.1%           4.4 
Benton                  69,925   66,425       5.3%           1.7 
Boone                   14,550   13,975       4.1%           5.0 
Bradley                  4,150    3,975       4.4%          12.1 
Calhoun                  2,025    2,025       0.0%           6.8 
Carroll                 10,850   10,500       3.3%           4.8 
Chicot                   5,800    5,525       5.0%           9.7 
Clark                   12,100   11,725       3.2%           2.7 
Clay                     7,150    7,300      -2.1%           7.7 
Clebume                  9,275    8,875       4.5%           4.5 
Cleveland                3,400    3,475      -2.2%           6.9 
Columbia                11,075   10,825       2.3%           4.8 
Conway                   8,825    8,150       8.3%           4.1 
Craighead               42,125   40,725       3.4%           3.6 
Crawford                24,475   23,475       4.3%           4.2 
Crittenden              22,175   21,300       4.1%           4.7 
Cross                    7,525    7,325       2.7%           6.7 
Dallas                   3,250    3,225       0.8%           7.9 
Desha                    6,375    5,900       8.1%          11.1 
Drew                     8,950    9,100      -1.6%          10.2 
Faulkner                41,675   40,450       3.0%           3.4 
Franklin                 7,475    7,225       3.5%           3.1 
Fulton                   4,125    3,925       5.1%           4.1 
Garland                 34,850   34,100       2.2%           3.6 
Grant                    7,325    6,650      10.2%           4.1 
Greene                  17,750   17,800      -0.3%           7.9 
Hempstead               10,875   10,500       3.6%           3.9 
Hot Spring              11,775   11,525       2.2%           4.7 
Howard                   6,600    6,550       0.8%           3.5 
Independence            16,125   15,525       3.9%           5.2 
Izard                    4,125    4,125       0.0%           5.1 
Jackson                  7,175    6,850       4.7%           7.9 
Jefferson               33,775   33,225       1.7%           7.6 
Johnson                 10,575   10,125       4.4%           3.6 
Lafayette                3,250    3,075       5.7%           5.2 
Lawrence                 6,825    6,675       2.2%           8.6 
Lee                      4,350    4,300       1.2%           9.3 
Lincoln                  5,175    5,050       2.5%           5.5 
Little River             5,300    5,025       5.5%           3.5 
Logan                    9,050    8,850       2.3%           4.3 
Lonoke                  25,600   24,850       3.0%           3.1 
Madison                  6,625    6,475       2.3%           2.7 
Marion                   6,175    5,975       3.3%           3.3 
Miller                  16,700   16,100       3.7%           2.8 
Mississippi             23,025   22,975       0.2%          12.6 
Monroe                   3,800    3,675       3.4%           5.9 
Montgomery               3,925    3,800       3.3%           3.4 
Nevada                   4,700    4,525       3.9%           4.4 
Newton                   2,900    2,800       3.6%           4.9 
Ouachita                10,250   10,200       0.5%           9.2 
Perry                    3,525    3,375       4.4%           5.7 
Phillips                 8,725    8,625       1.2%           8.9 
Pike                     4,700    4,675       0.5%           4.4 
Poinsert                 9,875    9,775       1.0%           6.7 
Polk                     8,925    8,750       2.0%           3.7 
Pope                    26,800   25,150       6.6%           3.0 
Prairie                  3,950    3,750       5.3%           4.4 
Pulaski                187,025  181,425       3.1%           3.1 
Randolph                 7,575    7,225       4.8%           7.6 
St. Francis             11,025   10,875       1.4%           8.2 
Saline                  41,025   39,800       3.1%           2.7 
Scott                    4,750    4,650       2.2%           2.8 
Searcy                   2,875    2,750       4.5%           3.8 
Sebastian               55,125   52,900       4.2%           4.4 
Sevier                   7,100    6,425      10.5%           2.8 
Sharp                    5,875    5,650       4.0%           6.3 
Stone                    4,850    4,825       0.5%           4.1 
Union                   20,425   19,450       5.0%           5.3 
Van Buren                5,900    5,700       3.5%           7.2 
Washington              79,725   75,750       5.2%           2.0 
White                   31,375   30,250       3.7%           5.0 
Woodruff                 3,575    3,475       2.9%           7.4 
Yell                     9,225    8,675       6.3%           2.2 
Source: Labor Market Informationfor Arkansas Counties, 
Arkansas Employment SecurityDepartment, released 
April 24, 2001. 
(1)Seasonally Adjusted. 
(2)Not Seasonally Adjusted. 

Labor Force Estimates March 2001