Sheridan, Arkansas – In October, Grant County reported an unemployment rate of 2.5%, placing it at the 66th position among 75 counties in Arkansas. This rate paints a nuanced picture of the local job market, especially when compared to state and national levels.
Comparing Local and National Unemployment Rates
The current unemployment rate in the United States has stabilized to pre-COVID-19 pandemic levels, fluctuating between 3.5% and 4% over the past two years. According to the Bureau of Labor Statistics, the national rate was 3.9% in October. This is a significant improvement from the peak of the pandemic in April 2020, when unemployment soared to 14.7%. Since late 2021, these rates have steadily declined to more stable figures.
In contrast, Grant County’s unemployment rate is not only below the national average but also lower than the state average. At 2.5%, it is 1.4 percentage points below the national level and 0.6 points below the state level. This indicates a relatively healthy job market in Grant County, compared to broader regional and national trends.
Using data from the Bureau of Labor Statistics, Stacker analyzed unemployment in Grant County over time. The analysis positions Grant County in a relatively favorable light within Arkansas, despite its ranking at #66. For context, Boone County, which also has a 2.5% unemployment rate, narrowly leads Grant County. Meanwhile, Grant County is doing better than Calhoun County, which shares the same rate of unemployment.
In practical terms, out of approximately 8,534 working residents in Grant County, about 211 are currently unemployed. This figure represents a decrease from both the previous month and the same time last year, indicating a positive trend in local employment. However, concerns of a potential recession loom, with economists warning that a downturn could lead to increased unemployment due to business closures and layoffs. This possible future scenario underscores the importance of continuous monitoring and adaptation of local economic strategies to maintain and improve employment rates in Grant County.
