| Profile The Central Arkansas Workforce Investment Area population grew to 486,885, a 6 percent increase, or 27,400 more residents, between 2006 and 2010. With an increase in population came an increase in the labor force, with 625 new workers added between 2009 and 2010. However, there was a decrease in employment of 1,150 workers between 2009 and 2010, taking the employment numbers below 2006 levels. In 2010, there were 1,775 more unemployed workers than in 2009, for a total of 16,600 unemployed workers in the Area. The unemployment rate increased by seven-tenths of a percentage point to 6.9 in 2010.
The Area saw an increase in job creation, the number of new hires, the number of separations, and the turnover rate in the third quarter of 2010; however, the numbers are still below third quarter 2006 numbers. There was an increase of 301 job creations between third quarter 2009 and third quarter 2010 and the number of new hires increased by 3,338 to 30,201 during the same period. Separations increased by 3,798 and the turnover rate increased by four-tenths of a percentage point to 9.9 percent.
Retail Salespersons, with an estimated employment of 2,730, continued to be the largest occupation in the Area in 2010. Cashiers was next with an estimated employment of 2,050. Registered Nurses, has the highest average wage of the 10 largest occupations at $68,605, with an estimated 1,200 employed.
Industry
Administrative and Support Services is expected to see the most growth in the Area, with a net growth of 660 employees. Machinery Manufacturing is anticipated to increase the fastest, growing 60.79 percent, or by 462 workers, during the 2010-2012 period for a total of 1,222 workers in 2012. Fabricated Metal Product Manufacturing is expected to see the largest decline, losing 173 workers by 2012. Sporting Goods. Hobby, Book, and Music Stores is forecasted to have the fastest decline, losing 12.88 percent of its workforce, or 107 employees.
Occupations
Truck Drivers, Heavy and Tractor-Trailer is projected to see the most growth in the Area with a net growth of 230 between 2010 and 2012, for a total of 4,992 employees in 2012. The fastest growing occupation is anticipated to be Tool Grinders, Filers, and Sharpeners, which is expected to grow from 20 employees to 28 between 2010 and 2012, a 40 percent increase. Cashiers is projected to see the most decline with an expected loss of 81 employees, for a total of 4,243 employees in 2012. Conveyor Operators and Tenders is expected to see the fastest decline, with a loss of 10 employees, or 10 percent, for a total of 90 employees in 2012.
Central Arkansas WIA includes a large portion of the Little Rock-North Little Rock-Conway Metropolitan Statistical Area and six counties: Faulkner, Lonoke, Monroe, Prairie, Saline, and Pulaski County, excluding Little Rock.
Population 2006-2010
| 2006 |
2007 |
2008 |
2009 |
2010 |
Percent Change |
| 459,474 |
466,419 |
473,334 |
479,795 |
486,885 |
6.0% |
Source: U.S. Census Bureau, Population Estimates Program
Labor Force/Employment
| Year |
2006 |
2007 |
2008 |
2009 |
2010 |
| Labor Force |
233,450 |
236,700 |
240,075 |
238,400 |
239,025 |
| Employment |
222,675 |
226,300 |
229,350 |
223,575 |
222,425 |
| Unemployment |
10,775 |
10,400 |
10,725 |
14,825 |
16,600 |
| Unemployment Rate |
4.6 |
4.4 |
4.5 |
6.2 |
6.9 |
Source: Arkansas Department of Workforce Services
2011 Monthly Unemployment Rate*
| Year |
Period |
Unemployment Rate |
| 2011 |
January |
7.4 |
| 2011 |
February |
7.1 |
| 2011 |
March |
6.7 |
| 2011 |
April |
6.4 |
| 2011 |
May |
6.9 |
| 2011 |
June |
7.5 |
*Not Seasonally Adjusted, Not Preliminary
Source: Arkansas Department of Workforce Services
Central Arkansas does not include City of Little WIA
Quarterly Workforce Indicators
(All Ownerships)
| QWI Quickfacts |
2006_3 |
2007_3 |
2008_3 |
2009_3 |
2010_3 |
| Job Creation |
9,223 |
8,679 |
9,014 |
7,573 |
7,874 |
| New Hires |
39,998 |
38,069 |
35,815 |
26,863 |
30,201 |
| Separations |
44,017 |
42,903 |
41,076 |
29,906 |
33,704 |
| Turnover |
11.7% |
11.5% |
11.1% |
9.5% |
9.9% |
Job Creation: The number of new jobs that are created by either new area businesses or the expansion of employment by existing firms.
New Hires: Total number of accessions that were also not employed by that employer during the previous four quarters.
Separations: Total number of workers who were employed by a business in the current quarter, but not in the subsequent quarter.
Turnover Rate = (1/2)*(full-quarter accessions + full-quarter separations)/employment stable jobs
Source: U.S. Census Bureau, Local Employment Dynamics
As of 9/07/2011 |
