Nevada unemployment insurance claims continue to decrease | nnbusinessview.com

Nevada unemployment insurance claims continue to decrease

NNBV staff report

CARSON CITY, Nev. — Initial claims data in the state Department of Employment, Training and Rehabilitation's (DETR) June 2018 Claims report reveals that initial unemployment insurance claims activity has declined in each of the first six months of 2018.

According to the report, claims are down 5.3 percent, when compared to the same six-month period last year.

"Another noteworthy item in June is that claims have fallen by 7.1 percent this month compared to last June, a decline of nearly 760 claims,” Jeremey Hays, economist for the Nevada DETR, said in a statement. “However, there was a slight uptight in claims activity this month when compared to May, with an increase of 2.2 percent. Corroborating these trends, the UI benefits exhaustion rate has fallen to 33.6 percent, the lowest level since March 2007.”

Additional June Claims Report highlights, as provided by the Nevada DETR, are as follows:

• Initial claims totaled nearly 10,000 in June, up just over 200 claims compared to last month.

• Initial claims decreased 7.1 percent year-over-year, continuing the downward trend observed in each month of 2018 so far.

Recommended Stories For You

• The relative trend, expressed in the 12 month moving average of the series, continues to trend below the 11,000, which hasn't been seen since 2006.

• Average unemployment duration has fallen to 13.3 weeks, down from 13.7 weeks a year ago.

• The UI benefits exhaustion rate stands at 33.6 percent, 3.5 percentage points lower than last May; a record low since March 2007.

Click here to access the state DETR’s landing page for recent numbers for unemployment rates and unemployment insurance claims activity.