For NW Arkansas, jobless rate at 2.5%
The Northwest Arkansas and Jonesboro metropolitan areas each reported unemployment rates below 3 percent in October, the U.S. Bureau of Labor Statistics said Wednesday.
Northwest Arkansas' unemployment rate was 2.5 percent, down from 3.1 percent in October last year. Jonesboro's unemployment rate was 2.9 percent in October, down from 3.9 percent in October 2015.
Other October unemployment rates compared with October 2015 were Little Rock, 3.1 percent, down from 3.9 percent; Hot Springs, 3.9 percent, down from 5 percent; Fort Smith, 4.2 percent, down from 4.9 percent; Texarkana, 4.4 percent, down from 4.7 percent; and Pine Bluff, 4.7 percent, down from 6.4 percent.
The state's unemployment rate in October was 4 percent and the national rate was 4.9 percent.
-- David Smith
Trade group honors former Alltel CEO
Joe Ford, the former chairman and chief executive officer of Alltel Corp., has been elected to the Independent Telecommunications Pioneer Association's Telephone Hall of Fame next year, the trade group announced Wednesday.
Ford will be inducted into the Hall of Fame on April 23, at the association's annual meeting in Jacksonville, Fla., the news release said.
The Hall of Fame honors people who have made "outstanding contributions" to the telecommunications industry.
Ford retired from Alltel, which used to be based in Little Rock, in 2002.
-- Jessica Seaman
State's stocks gain; Murphy Oil up 15.3%
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, climbed 2.95 to 360.88 Wednesday.
Nine stocks advanced, eight declined and one was unchanged.
Shares of Murphy Oil jumped 15.3 percent, along with other energy stocks, on news that OPEC agreed to cut its oil production. The close of $33.91 was the highest for Murphy since May.
Deltic Timber Corp. and Bank of the Ozarks each rose more than 3 percent.
America's Car-Mart, ArcBest, J.B. Hunt Transport and Simmons First National all hit 52-week highs.
Tyson Foods saw the biggest drop, losing 3.7 percent in active trading.
Total volume for the index was 29.3 million shares.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 12/01/2016