The office market in the U.S. has been struggling in the post-pandemic economy, but the Central Arkansas sector has slightly better vacancy rates. The office vacancies in Central Arkansas are at 11.3%, which is worrisome but still ahead of the national average. The Central Arkansas sector has generally followed national trends. [efbb5cf7]
In a positive development, job growth in Central Arkansas has surpassed pre-pandemic levels. According to a report by Arkansas Online, there were nearly 389,000 jobs in October, which is higher than the previous high of about 366,000 in February 2020. This indicates a strong recovery in the Central Arkansas economy. [e393b7cd]
Statewide unemployment in Arkansas remained at 3.7% in January, the same rate as the previous two months. This rate is on par with the overall U.S. joblessness rate at the beginning of 2024. However, economic observers have noted that the job environment in Arkansas is not as robust as previously reported. [d65f09fd]