Arkansas’ annual average unemployment rate rose to 3.5% in 2024, up from 3.1% in 2023, according to a report from the U.S. Bureau of Labor Statistics. Despite this increase, the state saw an increase in the number of employed individuals, with 1.36 million people working on average in 2024, up from 1.342 million in 2023. The state also saw a higher number of unemployed individuals in 2024, totaling 49,000 compared to 44,000 in 2023.
The average annual labor force in Arkansas also increased in 2024 to 1.409 million, up from 1.385 million in 2023. The state’s employment-population ratio improved slightly to 56.2% in 2024, compared to 56% in 2023. Arkansas ended the year with a December jobless rate of 3.4%, lower than December 2023’s rate of 3.7%.
Nationally, unemployment rates increased in 21 states and remained steady in 29 states in 2024. South Dakota had the lowest jobless rate at 1.8%, while Nevada had the highest at 5.6%. The BLS is set to publish revised 2024 jobs and payroll data on March 17.
Despite the increase in unemployment rates, Arkansas saw positive growth in employment numbers in 2024, indicating a strong labor market in the state. With the overall national trend pointing towards slight increases in unemployment rates across various states, Arkansas remains competitive with its relatively low jobless rate and increasing number of employed individuals.
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