Despite a record 8.1% unemployed across the country, Fayetteville is faring pretty well. Only 5.6% are without jobs here. So what's the secret? Experts say it has everything to do with the University of Arkansas.
Economic Expert Viktoria Riiman says college towns have two major advantages in these tough economic times: a high demand for education, and public funding.
And Riiman says that increase in student population isn't just from incoming freshmen. Much of that rise in numbers is from students staying beyond their bachelor's degree.
"They make the decision to continue to grad school to get their masters just because they were trying to find a good job and there's not a lot of opportunity for that," says Riiman.
Fayetteville Chamber of Commerce President Steve Clark says the U of A plays a huge part in keeping Fayetteville afloat.
"These students are a huge magnet for other people. Their parents show up. Their grandparents show up. Their significants show up. They bring in other folks to our community which fills up our hotels our restaurants."
Which Clark says automomatically creates jobs.
"It helps in terms of unemployment rates because when you have all these people that come in on a weekend to see their child you've gotta have people. You need part-time help."
Economic Expert Viktoria Riiman says college towns have two major advantages in these tough economic times: a high demand for education, and public funding.
And Riiman says that increase in student population isn't just from incoming freshmen. Much of that rise in numbers is from students staying beyond their bachelor's degree.
"They make the decision to continue to grad school to get their masters just because they were trying to find a good job and there's not a lot of opportunity for that," says Riiman.
Fayetteville Chamber of Commerce President Steve Clark says the U of A plays a huge part in keeping Fayetteville afloat.
"These students are a huge magnet for other people. Their parents show up. Their grandparents show up. Their significants show up. They bring in other folks to our community which fills up our hotels our restaurants."
Which Clark says automomatically creates jobs.
"It helps in terms of unemployment rates because when you have all these people that come in on a weekend to see their child you've gotta have people. You need part-time help."
