Arkansas unemployment rate stable at 3.6% in January
According to the agency, the state's unemployment rate remained at 3.6% from December 2024 to January.
Entergy, Port of Little Rock announce 'shovel ready' 875-acre industrial megasite
State officials said 1,956 additional Arkansans were employed in January, marking the 36th consecutive month of record high employment.
The report said that nonfarm payroll jobs decreased by 16,500. Officials said the declines were seasonal, citing drops in trade-transportation-utilities, government and leisure and hospitality.
European production company announces move into the Port of Little Rock, 500 jobs, $100 million investment
The largest gains were in private education and health services, according to the report.
For more information on unemployment rates in Arkansas, head to DWS.Arkansas.gov.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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CNBC
6 hours ago
- CNBC
The AI 'algorithmic audit' could be coming to hotel room checkout
Artificial intelligence can lead to surprises in all sorts of places where a bill once would have been considered settled. The use of AI by Hertz (and European car rental company Sixt) to scan for damage on cars, which is then charged to the customer, is a new application of the technology that is creeping into consumer life unnoticed. But it won't be the last unexpected adjustment to the travel experience courtesy of AI. Experts say consumers should expect to see businesses across the service industry deploying similar technology in the future, if they aren't already. "As businesses seek to automate loss prevention and operational efficiency, we're witnessing the emergence of what I call 'algorithmic auditing' – the systematic deployment of AI to identify, classify, and monetize previously overlooked inefficiencies or losses," said Shannon McKeen, professor of the practice and executive director for the Center for Analytics Impact at Wake Forest University School of Business. The Hertz program, recently reported on by the New York Times, is the beginning of what McKeen describes as a broader transformation, and new fault line, in the service economy. "The implementation of these systems reveals a fundamental tension between operational efficiency and customer satisfaction and equity," McKeen said. The question isn't simply whether AI can detect a scratch on a rental car bumper. "It's whether businesses should charge customers for every microscopic imperfection that algorithms can identify but human judgment might reasonably overlook as normal wear and tear," he said. McKeen says the dialogue between service agent and customer over costs will increasingly include a new term: "the machine says." Hotels are working their way through these changes, according to Jordan Hollander, cofounder of a research platform that helps hotels find new digital and AI products to improve efficiency. "I've been seeing more hotels experiment with AI across operations, but not quite in the same way Hertz is using it for automated damage detection and billing. That said, we're not far off," Hollander said. Some hotels, for instance, are already using AI-powered sensors to monitor air quality and trigger fines for smoking or vaping in rooms. But Hollander warns that sometimes the sensors trigger false positives. "Like someone using a hairdryer or aerosol spray — and guests get hit with $500 charges without ever lighting up. It's not hard to imagine how that could go south quickly," Hollander said. But unlike the car rental example, most hotels haven't automated the billing step yet. "They're using AI more to flag potential issues — like a room that smells off, linens that don't meet standards, or maintenance problems — and then looping in a human for the final call," Hollander said. For now, the AI is acting more like a very observant assistant than a judge and jury. "But it's clear that hotels are heading in the same direction," he said. "Between computer vision that can detect damage or wear in a room, and AI that analyzes guest behavior or room conditions in real time, the tech is already there." In a hospitality industry where trust is everything, there are reasons for hotels to move with caution. To date, many hotel operators are using AI to improve things like housekeeping efficiency, energy usage, and guest messaging — but they're being cautious about when and how it impacts the guest directly in a way that can be perceived to hurt the experience. "There's a risk of backlash if hotels start billing guests based solely on what an algorithm says. The moment a guest gets a charge and can't get a straight answer about why or how it was verified, you're in dangerous territory," Hollander said. "If guests feel like they're being watched or nickel-and-dimed by a machine, it undermines the relationship completely," he added. Recent experience in the hotel industry provides at least one cautionary tale, according to Hollander, referring to a custom-modified Alexa for hotels. "Years ago, the hot thing was voice devices, and that never really took off for this reason," he said. A Hertz spokeswoman told CNBC that AI brings uniformity and consistency to the checkout process. "For years, vehicle damage inspections have caused confusion and frustration. The process was manual, subjective, and inconsistent, and that isn't good enough for our customers or our business," she said. She added that with digital vehicle inspections, Hertz is introducing "much-needed precision, objectivity, and transparency to the process – giving our customers greater confidence that they won't be charged for damage that didn't occur during their rental, and a more efficient resolution process when damage does occur." Of the 500,000 rentals scanned so far, more than 97% showed no billable damage, according to Hertz, and damage incidents are declining at scanner-equipped locations. The Hertz spokeswoman acknowledged that the new system is still a work in progress. "We know change of this scale takes time, and we're listening, learning, and improving every day. As we said from the start, our goal through this initiative is to enhance the safety, quality, and reliability of our fleet and to create a more consistent rental experience for our customers." AI excels at pattern recognition, but where it may fall short is with the nuanced decision-making that has historically characterized good customer service, according to McKeen. "What makes these systems particularly problematic is the erosion of contextual judgment," McKeen said. Traditionally, business relationships relied on human discretion to navigate gray areas like "when does a scuffed tire represent normal use versus chargeable damage? When does a hearty portion in a restaurant satisfy a hungry customer versus being wasteful?" Other companies will be watching Hertz closely to see how the AI experiment works out, he said, and then jump right in on the profit opportunity if it is determined that use of the technology won't drive customers away. The use of AI for cost recouping isn't widespread yet because companies have not figured out the balance between customer trust and implementing AI, and the benefit, so far, doesn't outweigh the potential loss in loyalty, said Chuck Reynolds, managing director at L.E.K Consulting and a member of the firm's digital practice. The key for companies to implement these cost recouping tools is transparency. "While the opportunity for AI is huge, organizations need to be thoughtful about embedding it as a copilot, not police or enforcer," Reynolds said. Sustomers will accept AI as part of the experience, he added, if companies are fair, visible, and design the AI experience with empathy. "AI has to have customer-centricity built into its core," Reynolds said, and companies have to keep a role for humans in the process to oversee and override the AI if necessary. "Organizations that do so without thinking through the entire process will have challenges with internal adoption and customer adoption," Reynolds said. Customers should expect to see more of the technology Hertz is deploying in different settings, according to David Rivera, professor of hospitality and tourism at Flagler College. In addition to hotels, the future could include restaurants using AI to itemize plates to ensure accurate billing. But Rivera says all of this is being done with the goal of operational efficiency rather than to punish the customer. Use of AI in hospitality is evolving from passive data collection to active use of real-time decision-making tools, Rivera said, and that includes things like monitoring your rental car or how much you are raiding the mini-bar in your hotel room. "The common thread is increased operational efficiency, enhanced guest satisfaction, and automation of traditionally manual tasks, with a layer of accountability and transparency for both guest and provider," Rivera said. Not everyone is on board with that view, however. "This trend is absolute overkill with AI solution capabilities," said Daniel Keller, CEO of cloud infrastructure company Influx Technologies, which provides data collection and data analysis tools. "This particular use of AI doesn't increase efficiency; it scrutinizes customers of small-margin service businesses looking to suck extra money out of guest experiences."
Business Insider
7 hours ago
- Business Insider
Millionaire migration is booming — these are the top 10 countries attracting the world's wealthy in 2025
The world's richest people are on the move — and they're heading for safe havens with tax perks, top-tier schools, and investor-friendly policies. According to the Henley Private Wealth Migration Report 2025, roughly 142,000 millionaires are expected to relocate globally in 2025. The provisional net inflow figures are based on data and expert insights gathered between January and May, with final totals expected to be published next year once full-year data becomes available. The report — produced in partnership with global wealth intelligence firm New World Wealth — reveals the top destination countries attracting high-net-worth individuals and the vast sums of investable wealth they bring with them. The analysis draws on a blend of data sources, including property and company registries, LinkedIn activity, family office locations, and Henley & Partners' own client base, to track the global movement of over 150,000 HNWIs. To estimate the total wealth migrating to each country, analysts multiply the number of incoming millionaires by the average net worth of HNWIs relocating there — a figure that varies significantly between markets. "2025 marks a pivotal moment," Dominic Volek, the head of private clients at Henley & Partners, an investment migration consultancy, told Business Insider. "A record-breaking 142,000 millionaires are projected to relocate internationally, and for the first time in a decade of tracking, a European country — the UK — leads the world in millionaire outflows," he said. "It reflects a deepening perception among the wealthy that greater opportunity, freedom, and stability lie elsewhere." The top 10 countries gaining the most millionaires in 2025 UAE United States Italy Switzerland Saudi Arabia Singapore Portugal Greece Canada Australia The United Arab Emirates tops the list, set to gain a net 9,800 millionaires, followed by the United States with 7,500 and Italy with 3,600. These countries are among the 10 projected to welcome the highest numbers of HNWIs in 2025 — a trend that could reshape real estate markets, entrepreneurship, and job creation in their economies. Each of these countries offers a unique mix of tax incentives, lifestyle perks, and residency-by-investment pathways. "The UAE has evolved from a regional hub to a global wealth nexus through comprehensive policy innovation," said Volek. Its "zero income tax, world-class infrastructure, political stability, and regulatory framework," and its 2019 Golden Visa program — refined in 2022 — "have created a compelling proposition." The program offers five- and ten-year visa options tied to property and business investments, making it one of the most flexible globally. In the US, despite economic headwinds and growing political uncertainty, opportunity remains the key draw. "The USA is still attracting record numbers of HNWIs in 2025," Volek said, "with strong inflows coming from Asia, Latin America, and the UK." He described Florida as "especially popular" and Silicon Valley as keeping the world's top spot for wealthy tech entrepreneurs. He added that while some older millionaires are leaving for retirement-friendly destinations, inbound interest far outweighs outflows. Italy, now a rising star in wealth migration, is proving popular with HNWIs from France, the UK, and Switzerland. " Italy has relatively competitive tax rates when compared to other major countries in Europe," especially in estate duties — just 4% compared to over 30% in countries like France, Germany, and Spain. Switzerland, ever-popular with the ultrawealthy, is seeing new inflows from the UK and Scandinavia. "Zug, Geneva, and Lugano all remain very popular destinations," Volek noted, "whilst Zurich seems to be losing its appeal." Saudi Arabia, meanwhile, is the year's surprise breakout. The Gulf state is "boosted by strong inflows from the UK, North Africa, and the Middle East," particularly from Saudi-born HNWIs returning from the UK, Volek said. Singapore is seeing a smaller-than-usual inflow as wealthy expats increasingly opt for newer financial hubs. "Family office growth has slowed in Singapore over the past year," Volek said, adding that there is a trend of HNWIs leaving Singapore and moving to the UAE, especially in the financial services sector. Portugal and Greece continue their ascent, driven by lifestyle appeal, tax perks, and successful investment migration programs. "In Portugal, Lisbon and the Algarve are extremely popular," said Volek, while "the Athenian Riviera and the Greek Islands are tops in Greece." "Southern Europe is fast emerging as a new center of gravity for wealth migration in the region." Canada and Australia, while still in the top 10, are showing signs of saturation. These traditional safe havens are recording "the lowest inflows on record," said Volek. The UK and China are seeing the biggest millionaire outflows While some countries are booming, others are bleeding wealth. The UK is projected to see a net outflow of 16,500 millionaires — the largest of any country — followed by China and India, whose respective outflows stand at 7,800 and 3,500. " Several European countries are starting to lose large numbers of HNWIs to migration in 2025, led by the UK, France, and Spain," said Volek. "Also, Germany, Ireland, Norway, and Sweden are all beginning to see significant wealth outflows in 2025, which is a worrying sign for Europe in general." "Millionaires are typically among the first to relocate when conditions deteriorate," the New World Wealth report states — making migration flows a leading indicator of future economic risks. Why millionaire migration matters HNWIs don't just bring wealth — they often create it. Many are entrepreneurs or investors who inject capital into local markets, buy property, and fund startups. According to New World Wealth, about 15% of migrating millionaires are founders, with the figure rising to over 60% among centi-millionaires and billionaires. "If one reviews the world's fastest-growing wealth markets over the past decade, it is noticeable that most of these countries have investment migration pathways and have been heavily aided by inward wealth migration," Volek said. But long-term success goes beyond visas, according to Volek; it's the combination of favorable tax policy, political stability, strong institutions, and quality of life that helps nations truly attract and retain global wealth. And what Volek called the "great wealth migration" is set to "accelerate," he said. "Its trajectory will be shaped by how effectively nations address the complex mix of economic, political, and lifestyle factors that drive these decisions, with investment migration serving as one element in broader competitive strategies for attracting and retaining global wealth."
Yahoo
8 hours ago
- Yahoo
What if the dollar has bottomed?
-- A recent rebound in the U.S. dollar may mark the end of its year-to-date slide, potentially easing pressure on European equities and resetting key assumptions across global markets. The dollar, down around 10% from January highs, has recently bounced following U.S. trade agreements with Japan and the EU. Barclays analysts say this move could reflect the early stages of a broader shift, particularly as speculative positioning against the dollar looks stretched and U.S. earnings and macro data remain firm. The rally in the euro, driven more by capital flows than interest rate differentials, has been a drag on European earnings, especially for exporters. Barclays' FX strategists expect the euro to weaken gradually, forecasting EUR/USD to fall toward 1.13. That shift would reverse some of the eurozone's year-to-date 'exorbitant benefit' from dollar weakness, which had exacerbated the impact of deteriorating terms of trade due to tariffs. European stocks have lagged U.S. peers in part due to this FX dynamic. Barclays says the stronger euro has hit corporate earnings harder than tariffs, contributing to a wave of EPS downgrades in export-heavy sectors. But a dollar turnaround may offer some relief, with the potential to put a floor under European earnings estimates. Medium-term risks remain. Concerns around Federal Reserve independence and potential rate convergence in 2026, especially if German or EU growth surprises to the upside — could limit sustained dollar strength. Still, Barclays concludes that FX is no longer a one-way bet. If the dollar has in fact bottomed, it would mark a meaningful shift in global equity drivers, the brokerage said. Related articles What if the dollar has bottomed? After soaring 149%, this stock is back in our AI's favor - & already +25% in July If Powell goes, does Fed trust go with him?
