Arkansas Unemployment Falls to Record 3.4 Percent
LITTLE ROCK – The unemployment rate continued its record-setting decline in May, dropping to 3.4 percent from 3.5 percent in April, Arkansas’ Department of Workforce Services announced Friday. This is the lowest rate in Arkansas’ history.
“Arkansas’ unemployment rate has fallen, once again, to an all-time low at 3.4 percent,” Governor Asa Hutchinson said. “The state’s labor force participation continues to increase with more jobs being added to the private sector, and the total number of Arkansans employed since January 2015 has risen to 74,500, up from 70,200 from last month.
“These are terrific reminders that our economy is on the right track. As we continue to attract new industry and expand existing employers, we will have a greater need for effective work-force education efforts. I am confident we can meet the ongoing needs of employers. ”
The state’s unemployment rate beat the national rate, which is 4.5 percent.
The unemployment rate in April 2015, the year Governor Hutchinson took office, was 5.5 percent. A year later, it had fallen to 3.9 percent in April 2016.
6-16-17 6:28 p.m. kawx.org