Arkansas Economy

Arkansas’s net revenue came in slightly above forecast for the month of November, and exceeded net figures from the same period last year. But gross collections for the month were down.

The state Department of Finance and Administration said Friday that five months into fiscal year 2017, net revenue has totaled $2.15 billion, which is 1.7 percent above year ago levels but 0.5 percent below the agency’s forecast. The agency reported that gross revenues for the fiscal year came to about $2.5 billion, 0.9 percent above year ago levels but 0.8 percent below forecast. 

All of Arkansas’s metropolitan areas saw unemployment rate declines in October, compared to both the same period last year and to the previous month. The U.S. Bureau of Labor Statistics released data Wednesday showing the state’s unemployment rate was a non-seasonally adjusted 3.4 percent, down from 3.9 percent in the previous month and down from 4.3 percent during the same period last year.

Delta Regional Authority
dra.gov

The Delta Regional Authority says nearly $26 million will be invested in Arkansas for projects aimed at driving economic growth and improving infrastructure.      

The authority announced the funding Monday alongside Arkansas Gov. Asa Hutchinson. The $26 million includes money awarded by the Delta Regional Authority and public and private funding sources. 

Ken Simonson Associated General Contractors of America
Jacob Kuaffman / KUAR News

Officials with the Associated General Contractors of America visited central Arkansas Tuesday to push for a federal civil works program under President-elect Donald Trump that would invest over a trillion dollars in the nation’s aging infrastructure and bring more construction jobs to the Arkansas economy.

Sun Paper
Arkansas Governor's Office

Becky Keogh, director of the Arkansas Department of Environmental Quality, said she and her staff had recent meetings with officials at Sun Paper Industry of China on pre-engineering and environmental permitting for the $1.3 billion mega-project in Clark County.

State officials say Arkansas' unemployment rate remained unchanged in October, coming in at 4 percent. 

The Arkansas Department of Workforce Services says the state saw some minor fluctuations in the number of unemployed people last month, but not enough to cause the rate to change from September's number. The October rate of 4 percent is almost a full percentage point lower than the rate of 4.9 percent in October 2015. 

Arkansas finance officials say a boost in corporate and individual income tax collections helped the state's revenue rebound in October after three months of losses this fiscal year.

The Department of Finance and Administration said Wednesday the state's net available revenue in October totaled $439.1 million, which was $33.2 million above the same month last year and $8.9 million above forecast. The state's revenue so for the fiscal year that began July 1 totaled $1.7 billion, which is $23.2 million below forecast.

On the podcast this week:

-Hillary Clinton and Donald Trump face off in the final presidential debate this year. Trump says he won’t commit to accepting election results if he loses. What’s the Arkansas response?

-The state unemployment rate ticks up in September. Meanwhile Gov. Hutchinson tours China to talk trade and bring home some jobs.

-Arguments for and against Medical Marijuana ratchet up. We’ll talk TV ads, law enforcement and tax revenue ahead of the November 8th election.

Early voting begins Monday, October 24th. 

U.S. Bureau of Labor Statistics

Arkansas’s unemployment rate is up, though not by very much. The state also still rests below the national average in the September report from the U.S. Bureau of Labor Statistics.

After three months of flat unemployment numbers Arkansas’s rate ticked up from 3.9 percent in August to 4 percent in September. 

Governor Asa Hutchinson Skype
Governor's Office

After seeing thousands of nondurable apparel manufacturing jobs leave eastern Arkansas since the early 1990s, Gov. Asa Hutchinson and his economic development team are bringing 400 of those jobs back to the state.

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