Unemployment, job fair attendance indicate positive signs

Workforce recruitment, retention and outreach are some of the most important topics for staff at the Rogers-Lowell Area Chamber of Commerce.

The chamber conducts two job fairs annually, typically in May and October, which attract between 50 - 120 hiring companies and anywhere from 1,500 to 3,200 job seekers depending upon current economic conditions. However, as we indicated in press coverage of our most recent event on October 12, we believe there are some positive signs of recovery for job seekers:

Job Fair Turnout Shows Improving Economy (40/29 News)

http://www.4029tv.com/news/21278363/detail.html

Job Fair Offers Positions, Training (40/29 News)

http://www.4029tv.com/money/19344047/detail.html

Job Fair Attracts Unemployed, Those Seeking Better Pay (The Morning News)

http://www.nwaonline.net/articles/2009/10/12/business/101309busjobsearch.txt

Economic indicators continue to improve. At the Rogers-Lowell Area Chamber of Commerce, our economic development inquiries have been steady or up over 2008 every single month year to date (January - September 2009). This includes new business inquiries, economic development prospects, individuals looking to open franchises, small businesses and home-based businesses.

Northwest Arkansas remains an outstanding and desirable place to go into business as well as to live, play and raise a family. We're pleased to see progress in historic downtown Rogers as well - downtown Rogers merchants are banding together better than we've ever seen, and there is a new attitude of optimism in downtown Rogers spurred by efforts from Main Street Rogers (Mocha on Main Street, the new butterfly and hummingbird park on First Street, downtown intersection improvements), as well as efforts by merchants (third Friday Twilight Walks are thriving).

We're serving more diverse business inquiries than ever, and our diversity program continues to gain momentum. Most recent U.S. Census Bureau numbers still place Rogers at approximately 31% Hispanic or Latino, and we are assisting many of these individuals with start-up businesses (most popular: restaurants, auto detail and repair, child care, salons) as well as translation, outreach and referral services.

As you may recall, in June 2009 Forbes magazine ranked the Fayetteville-Springdale-Rogers MSA (metropolitan statistical area) at #2 on its list of the best places in the nation for recession recovery (http://www.forbes.com/2009/06/09/recession-economy-cities-business-beltway-recovery-cities.html). We couldn't agree more, although we think Northwest Arkansas is a fantastic place even without talk of recessions!

Northwest Arkansas ranked #2 in U.S. for recession recovery!

Here's what Forbes.com (http://is.gd/12xyh) said about Northwest Arkansas:

Cities poised for a rebound--and cities with a long slog ahead.

The three most important things in real estate: location, location, location.

It's true for recovery from a real estate bubble too. Overall, many economists expect the national economy to return to growth later in 2009, perhaps as soon as this summer. But that won't be the case everywhere. While some cities are poised for a quick rebound, others face a slog to recovery that could take years.

To find the 10 cities that look best poised for recovery (and the 10 cities likely looking at the longest climb back), we examined estimates from data provider Moody's Economy.com of the projected gross domestic product of metropolitan areas across the U.S., as well as unemployment figures from the Bureau of Labor Statistics and home prices, incomes and affordability data from the National Association of Home Builders. Because, in general, healthy cities were not victims of as severe a housing collapse, home prices were not used in ranking the cities poised for recovery.

#2.  Fayetteville-Springdale-Rogers, Arkansas

Current GDP: $13.9 billion

End of 2010: $14.5 billion (projected)

Unemployment: 5%

What better way to sit pretty during a recession than to have the ultimate recession-proof company headquartered in your neighborhood. The Fayetteville region is home to Bentonville, Ark.-based Wal-Mart. Wall Street may be struggling, but the presence of the world's most powerful retailer keeps northwest Arkansas' business community humming.