(June 17, 2024) One Arkansas sector stands out among private industry groups. Construction jobs grew from 51,400 (April 2020) to 68,200 (April 2024), a 32.75% growth rate that topped the U.S. average (25.7%) in the period.


(June 17, 2024) Last month, the economy entered the fifth year of an economic expansion that began in May 2o20, according to the National Bureau of Economic Research, a widely-followed business cycle arbiter.(1)

Nonfarm payroll employment is the broadest state level economic indicator.

Arkansas employment expanded to 1,372,100 jobs (April 2024), according to preliminary numbers posted by the U.S. Bureau of Labor Statistics.(2)

One Arkansas sector stands out among private industry groups. Construction jobs grew from 51,400 (April 2020) to 68,200 (April 2024), a 32.75% growth rate that topped the U.S. average (25.7%) in the period.(3)

Arkansas ranked 10th among states in the period in new Construction jobs.

Following is the list of Top 10 states, a Policy Foundation analysis shows.

Michigan                98.8%

Vermont                 65.3%

Pennsylvania          59.6%

Massachusetts        54.9%

New York                54.6%

Alaska                     34.9%

Montana                 34.48%

Rhode Island          33.3%

Idaho                      33.2%

Arkansas              32.7%

Other States Above the U.S. Average

Eight states are in this group: Nevada (32.05%), West Virginia (30.5%), Connecticut (29.0%), New Jersey (28.8%), South Dakota (28.69%), Kentucky (27.06%), Arizona (26.036%), and Missouri (26.033%).

Other States

Indiana (25.5%), New Hampshire (25.39%), Utah (24.6%), Washington (24.2%), California (24.0%), Tennessee        (22.4%), Wisconsin (21.37%), Louisiana (21.27%), North Carolina (20.0%), Florida (19.8%), Hawaii (19.4%*), Maine (18.66%), Ohio (18.36%), Delaware (18.0%*), Mississippi (17.66%), Alabama     (17.43%), Illinois (17.42%),    Texas (17.02%), Iowa (15.6%), Georgia (15.3%), Minnesota (14.5%), Oregon (14.18%),   Kansas (14.075%), Oklahoma (13.9%), Virginia (13.7%), South Carolina (13.6%), Nebraska (12.1%), Wyoming (12.1%),  New Mexico (8.5%), Colorado (6.7%),

North Dakota (5.4%), and Maryland( 2.6%).

* Includes Mining and Logging sectors

Limitation: This research memo does not examine possible explanations for growth in Construction employment.

Sources

(1) https://www.nber.org/research/data/us-business-cycle-expansions-and-contractions

(2) https://www.bls.gov/sae/

(3) U.S. Construction jobs: (April 2020) 6,528,000 (April 2024) 8,207,000

(BLS: Nonfarm Payroll Employment) Alabama (April 2020) 89,500 (April 2024) 105,100; Alaska 14,600, 19,700; Arizona 171,300, 215,900; Arkansas 51,400, 68,200; California 742,300, 920,500; Colorado 169,100, 180,400; Connecticut 49,300, 63,600; Delaware 20,500, 24,200*; Florida 538,600, 645,300; Georgia 195,900, 225,800; Hawaii 34,600, 41,300*; Idaho 53,600, 71,400; Illinois 200,300, 235,200;Indiana 133,700, 167,800; Iowa 73,700, 85,200; Kansas 61,100, 69,700; Kentucky 72,800, 92,500; Louisiana 113,300, 137,400; Maine 28,400, 33,700; Maryland 150,600, 154,500; Massachusetts 113,700 176,200; Michigan 103,300, 205,400; Minnesota 117,900, 135,000;Mississippi 41,900, 49,300; Missouri 121,000, 152,500; Montana 29,000, 39,000; Nebraska 54,400, 61,000; Nevada 91,400, 120,700; New Hampshire 25,600, 32,100; New Jersey 131,900, 170,000; New Mexico 48,400, 52,500;  New York 248,500, 384,300; North Carolina 222,600, 267,200; North Dakota 26,000, 27,400; Ohio 193,800, 229,400; Oklahoma 77,200, 87,900; Oregon 101,500, 115,900;Pennsylvania 162,000, 258,600; Rhode Island 15,900, 21,200; South Carolina 101,300, 115,100; South Dakota 23,700, 30,500; Tennessee 126,600, 155,000; Texas 723,200, 846,300; Utah 112,000, 139,600 Vermont 9,500, 15,700; Virginia 195,400, 222,200; Washington 185,300, 230,100; West Virginia 26,200, 34,200; Wisconsin 116,500, 141,400; Wyoming 20,700, 23,200.