by Talk Business & Politics staff (staff2@talkbusiness.net)
There is no sign of a looming recession in Arkansas’ job market. The state jobless rate hit a record low of 2.7% in May, which followed a record low of 2.8% in April. Also, three of the state’s largest job sectors set record employment in May.
The number of employed in Arkansas during May was an estimated 1,343,657, up 16,675 jobs, or 1.25%, compared with May 2022, and above the 1,339,400 in April, according to the U.S. Bureau of Labor Statistics report posted Friday (June 17). The May numbers are preliminary and subject to revision.
Arkansas’ labor force, the number of people eligible to work, in May was 1,380,752, up 0.74% from the 1,370,505 in May 2022 and above the 1,378,421 in April. The state’s labor force participation rate was 57.5% in May, unchanged from April, and below 57.7% in May 2022.
