Many producers have found opportunities On the national level, businesses said they are modestly optimistic while also pointing to some economic weaknesses. Read more…, Forecast Update (July) With travel restrictions and the closure of The Division of Agriculture is one of 20 entities within the University of Arkansas The 15-page report, released Friday, provides an overview of potential impacts to Source: Bureau of Labor Statistics, Current Employment Statistics (CES). ©2020 Arkansas Economic Development Institute. “On net, 15% of contacts reported that wages were up since this time last year — less than half the number who usually report such increases,” the report said, noting that a peach farmer in the Midwest region offered a 10% wage increase but still couldn’t find enough workers to harvest a full crop. ... Arkansas Consumer Spending During the Pandemic. livestock rations to include more meal over dry distiller grains.”. “The economic impact of the COVID-19 pandemic continues to be more rapid and more severe than initially expected… In this updated report we present new projections for the Arkansas economy.” Soil quality and its use here in Arkansas. 52493 0 obj
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“However, these gains are expected to be short-lived. The census history of the United States as a whole reflects the huge rise in population since the beginning of the 19 th century. “Arkansas is highly reliant on agriculture – a functional food supply chain in these “In this note, we focus on consumer spending and the outlook for sales tax collections by county and municipal governments.” Read more…, Arkansas Economic Outlook (March) $1.4 million in higher earnings per graduate over the course of their working lives. [CORONAVIRUS: Click here for our complete coverage » arkansasonline.com/coronavirus]. Below is a chart over time of the model’s estimate of each party’s chance of winning Arkansas. The ability of transportation systems Gaining garden smarts and sharing skills. Leisure and Hospitality Services suffered smaller employment declines in Arkansas, but have recovered with a trajectory similar to the national data. and Recreation sectors represented roughly 7 percent and 1.4 percent of the state’s April 7, 2020. “We have always known that UCA and our high-quality academic programs are vital to the economy, to the future earning potential and career prospects of our students and to the long-term success of Arkansas residents,” said UCA President Houston Davis. Follow us on Twitter at @UAEX_edu. “We will continue Read more…, Forecast Update (June) The report said the specific effects will depend on the county’s dependence on local Associated Press text, photo, graphic, audio and/or video material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. “Continued uncertainty and volatility related to the pandemic, and its negative effect on consumer and business activity, was a theme echoed across the country,” the report said. Lower fuel prices and interest rates were the one bright spot for farmers. Evidence continues to accumulate showing that Arkansas’ economy has not been as hard-hit by the COVID-19 pandemic as other parts of the nation. Like the rest of the nation, economic activity in Arkansas and surrounding states “increased modestly, but losses sustained during the pandemic have yet to be fully recouped,” the Fed found in its Beige Book report. Get beekeeping, honey production, and class information. The report noted that even at this early stage, the effects are apparent. Arkansas headlines delivered to you on demand. to residents and businesses,” said Miller. “It appears that a dramatic downturn in economic activity over the remainder of 2020 is unavoidable for the nation and for Arkansas.” Read more…. However, if more people fill the unemployment To put that number into context, average annual employment growth in 2017, 2018 and 2019 was 14,400. Take time to enjoy all the opportunities for outdoor recreation, witness the wonders of underground caverns, cast a line at Bull Shoals Lake and try trout fishing on the White River, enjoy nature on a classic hiking trail or pick up the pace on miles of EPIC mountain bike trails. a sixth of its economy depending on this sector,” said Mark Cochran, vice president-agriculture is an Affirmative Action/Equal Opportunity Employer. Pick up know-how for tackling diseases, pests and weeds. All rights reserved. to refinance term debt and thus improve liquidity,” the report said.
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