LITTLE ROCK, Ark. (KTHV) -- The Arkansas unemployment rate has hit a record low of 3.4 percent.
The unemployment rate sat at 3.5 percent in April, but in May it dropped to 3.4 percent. This is the lowest rate in Arkansas history, according to a released statement by Governor Hutchinson.
“The state’s labor force participation continues to increase with more jobs being added to the private sector, and the total number of Arkansans employed since January 2015 has risen to 74,500, up from 70,200 from last month,” Governor Hutchinson said.
When Hutchinson took office in April 2015, the rate was 5.5 percent. By April 2016 it had fallen to 3.9 percent.
“These are terrific reminders that our economy is on the right track. As we continue to attract new industry and expand existing employers, we will have a greater need for effective work-force education efforts. I am confident we can meet the ongoing needs of employers," Governor Hutchinson said.
The national unemployment rate is 4.5 percent.
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