Nevada's unemployment rate declined to 4.7% in September, down from 5.3% in April, according to the Nevada Department of Employment, Training and Rehabilitation. The drop was driven by a shrinking labor force, which decreased by 5,242 people, including 3,052 fewer employed individuals and 2,291 fewer people counted as unemployed.
While the Las Vegas metro area added 1,500 jobs, statewide job growth was only 1,300 positions. The labor force now totals 1,670,292 people, defined as those working or actively seeking work in the past month. Economists note that a falling labor force can artificially lower the unemployment rate.
Hotel and restaurant jobs have returned to pre-pandemic levels, but broader job growth in other sectors has contributed to the improving employment picture. In August, Nevada had a lower unemployment rate than six other states and Washington, D.C., where the rate was 5.7%. Nevada's job growth rate of 1.29% ranked seventh-best nationally, behind New Mexico and South Carolina, which led at 1.62%.
Initial unemployment insurance claims statewide totaled 11,106 in September, a decrease of 386 claims from the prior month.
Sources: 8 News Now
Original reporting: 8 News Now →
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