Governor Hutchinson: economy strong as state matches record low 3.4 percent unemployment

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LITTLE ROCK, Ark (News Release) – Arkansas’s efforts to retain and recruit business continues to pay off as the state matched its record low unemployment rate of 3.4 percent in July, Governor Asa Hutchinson said today.

This is the fourth time that Arkansas’s unemployment rate has been 3.4 percent since May 2017. It is the third straight month that the rate has declined. Arkansas’s rate is three-tenths of a percent lower than the national rate of 3.7 percent. Arkansas’s unemployment rate has remained below 4 percent for 38 consecutive months.

“From the day I took office, I have traveled across the nation and around the world to spread the word that Arkansas is a great place to live and to do business,” Governor Hutchinson said. “Businesses have responded by expanding existing operations or locating here for the first time. The record-matching unemployment rate of 3.4 percent demonstrates that our work is paying off.”

July’s rate fell from 3.5 percent in June. The unemployment rate was 5.6 percent when Governor Hutchinson took office in 2015.

“Our economy is strong, and Arkansans are working at record numbers,” Governor Hutchinson said. “We continue to travel a good path to a prosperous Arkansas, which is the best recruiting message we can offer.”

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