Arkansas Unemployment Drops to Record 3.7 Percent in February

Brittany BishopMar 26, 2017

The Triangle's seasonally adjusted unemployment rate for January was 4.7 percent.

In February 2017 IL surpassed its previous jobs peak from September 2000.

Government saw the biggest drop, with 1,600 fewer jobs. The year-over-year growth for the state was a net 2,100 new jobs, he said.

January's job tally, initially estimated at a gain of 5,700, was revised to 6,500.

The number of unemployed Arkansans in February fell below 50,000 for the first time since 1976, when the bureau began reporting unemployment statistics monthly.

Economists were split in their interpretation of February's employment numbers.

"While the unemployment rate moved up to 4.7 percent, labor force also grew, indicating potential workers seeing opportunity in a low unemployment rate environment", Condon said in a statement.

From February 2016 to February 2017, Virginia showed a job growth rate of 1.4 percent, still slightly slower than the national pace of growth of 1.6 percent, but Virginia has had positive job growth for 35 consecutive months.

The financial activities sector lost jobs in February, declining by 500 positions from the previous month. In February 2016, Ohio's unemployment rate was 5 percent. "However, when compared to this time a year ago, total non-farm employment changed little". Neither the state or nationwide figures are seasonally adjusted.

Over the year, the state gained 13,013 non-farm jobs, an increase of 1.3 percent. Since February 2016, however, the sector added 1,500 jobs, an increase of 1.6 percent. The state economy added 12,300 jobs over the same period, reaching an all-time high job count of 8,045,400.

The best performing industries in February were trade, transportation and utilities and hospitality, which piled on a combined 16,700 jobs over the month. Furthermore, Illinois has struggled with out-migration and is losing many working-age adults to other states, resulting in a smaller labor force.

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