The area’s unemployment hit 5.7 percent in June, slightly up from the 5.6 percent posted in May, according to a monthly report by the U.S. Bureau of Labor Statistics. The rate improved over the 5.9 percent the area recorded in June 2012.
All employment sectors, such as retail or manufacturing, grew or remained steady.
“You can’t ask for much else,” said Kathy Deck, director of the Center for Business and Economic Research at the University of Arkansas.
By The Numbers
June Unemployment Rates
• Fayetteville-Springdale-Rogers: 5.7 percent
• Fort Smith: 7.7 percent
• Hot Springs: 7.7 percent
• Jonesboro: 7.2 percent
• Little Rock-Conway: 6.7 percent
• Pine Bluff: 10.1 percent
Source: U.S. Bureau Of Labor Statistics
The highest increase in employment was in the trade, transportation and utilities sector where Walmart operates. The sector increased from 47,600 to 50,200 jobs from the previous year.
“Our labor force is growing. Our area has the best job growth,” Deck said. “Construction is doing particularly well. You don’t have to be an economist to see that — just look around.”
Nabholz Construction has added several positions throughout the past three years for specific projects and added several jobs for field personnel, such as onsite craftsmen and other laborers, said Phil Jones, director of program management.
Jones said Nabholz has benefited from the growth in Northwest Arkansas, and the growth has led to significant projects such as the Fayetteville High School expansion and renovation and the NorthWest Arkansas Community College health professions building in Bentonville.
Unemployment rates were lower in June than a year earlier in 272 of the 372 metropolitan areas, higher in 73 areas and unchanged in 27 areas, according to the U.S. Bureau of Labor Statistics.
The Bureau of Labor Statistics measures unemployment in what the Bureau calls metropolitan statistical areas. Northwest Arkansas’ area includes Washington, Benton and Madison counties in Arkansas and McDonald County, Mo.
The Bureau of Labor Statistics does not provide seasonally adjusted unemployment numbers for metropolitan statistical areas. Comparing numbers from the same months in different years removes seasonal unemployment swings.
June and July traditionally have the highest unemployment rates of the year for a number of reasons, Deck said. For example, some teachers aren’t hired during the summer months when school isn’t in session.